Phoenix foreclosures flat in October

Phoenix-area foreclosures climbed in October but pre-foreclosures were almost flat.
Last month, 4,826 homes were foreclosed on, compared to 3,759 in September, according to the Information Market. The monthly foreclosure, or trustee sale, rate hit a record in July when 5,316 houses taken back by lenders. Pre-foreclosures totaled 7,841 in October, compared to 7,857 in September. The record for Valley notice of trustee sales was 10,689 in March.
“With the Federal government firmly planted in the banking system, monthly numbers tend to jump up and down quite a bit, especially during the onset or conclusion of fiscal quarters,” said Tom Ruff, Information …

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