Foreclosure rates drop in January - KWWL - Eastern Iowa Breaking News, Weather, Closings

Foreclosure rates drop in January

WASHINGTON, D.C. (KWWL)-- Foreclosure rates were down in January, but a surge could be on the way.

According to Realtytrac Inc., more than 315-thousand households received a foreclosure-related notice last month--- that's down nearly 10 percent from 349-thousand households in December.

Analysts say the numbers could stay above 300-thousand as unemployed homeowners start missing monthly payments.

In January, one in 409 homes were sent a filing, that includes default notices, scheduled foreclosure auctions and bank repossessions.


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