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Rate of N.C. foreclosures slows

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Wednesday, November 11, 2009

(Updated 9:00 am)

By
Associated Press

CHARLOTTE (AP) — The rate of home foreclosures in North Carolina slowed last month compared with recent months.

The Charlotte Observer reported today that foreclosure filings in the state dropped by 3 percent compared with October 2008. More than 6,000 homeowners filed for foreclosure in North Carolina last month.

The newspaper reported that the slowing increase of home foreclosures comes largely because of the comparison with last year's surge in filings.

Mecklenburg County had a 15 percent increase in foreclosure filings compared with October 2008. But some recent monthly increases were 80 percent compared with the same month last year.

Mecklenburg County's 1,129 filings last month accounted for one-fifth of the state's total. North Carolina is on pace for a record-breaking 60,000 filings for 2009.

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grandmalauren

November 11, 2009 - 10:38 am EST

Just wanted to clarify something. This article reports that homeowners have filed for foreclosure. Homeowners do not file for foreclosure. The lending institution that holds the mortgage files for forclosure. Nevertheless, it's good that the number of foreclosures is finally declining.