There were 71,149 foreclosure salesrnreported in August, an increase of 12 percent from 65,527 in July and therernwere 187,941 foreclosure starts.  Thisrnwas an increase of 14 percent from 164,593 starts reported in July.</p

Serious delinquencies declined fromrn2.47 million in June to 2.42 million in July, a 2 percent decrease.</p

Faith Schwartz, Executive Director, said,rn”The cumulative efforts of many different parties have made a significantrndifference in preventing foreclosures where possible.  Without therncollaboration of industry, non-profits and our government, we would not havern5.75 million loan modifications for homeowners or over 115,000 total permanentrnsolutions for the month of August. The increase of short sales has beenrnsignificant and, for the first month since reporting on short sales, wernestimate a high of 39,559. Short sales provide another tool to avoid the highrncost of foreclosure for families, communities and investors.</p

“We are seeing improvement acrossrnthe board in ‘serious delinquencies’, currently at 2.42 million homeowners. rnWhile this is almost 40% lower than the all-time high of 4 million homeownersrnseriously past due on their mortgage, we cannot forget there are many more whornremain at risk of foreclosure.” 

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