Yes! Weekly: Guilford foreclosures accelerate, but new filings are down

By Eric Ginsburg, Yes! Weekly

Marche Clarke, with the Guilford County Homeownership Center spoke at a recent anti-foreclosure rally outside of Bank of America. (photos by Eric Ginsburg)

Marche Clarke, with the Guilford County Homeownership Center spoke at a recent anti-foreclosure rally outside of Bank of America. (photos by Eric Ginsburg)

Residential foreclosures increased dramatically in North Carolina from September to October, with more filings in Guilford County than any other county in the state. Foreclosure rates went up nationwide by 7 percent, while foreclosure rates in North Carolina rose by 35 percent from September to October according to RealtyTrac, a real estate group that released the report.

Yet the total number of new foreclosure filings — residential and commercial listings that may not ultimately result in foreclosure — fell for the second straight month statewide.

“We’re still on the long term trend of higher foreclosure rates than normal,” said Peter Skillern, director of the Community Reinvestment Association of North Carolina. “There’s a sense that there is a backlog of foreclosures that banks are working through.”

In Guilford County, the number of new filings fell from 279 to 238, the lowest number this year. On average, Guilford County has seen 296 new filings every month, though the last four months have been below that average. In 2010, the average monthly filings were 335, and while 2009 and 2008 were lower, so far 2011 is averaging fewer filings.

Forsyth County’s new filings increased for the third straight month, including 260 in October, making it the most number of new foreclosure filings all year. For whatever reason, October has been marked by the highest number of new filings in Forsyth and Guilford Counties in 2007, 2008 and 2010. The same is true on a statewide level.

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