Foreclosure Activity Continues To Fall

RealtyTrac is reporting that national foreclosure filings for July 2011 were down 4% from June 2011 and down 35% from July 2010.  This is the tenth straight month of year over year decreases in foreclosure activity and the lowest month since November 2007.  The slowdown was initially caused by the robo-signing controversy and further delayed by the State Attorney General's  lawsuits.  Unfortunately, these short-term interventions will also delay the full recovery of the real estate market until 2012 and beyond.

Tennessee had 2591 homes with foreclosure filings in July 2011.  Nashville had 308 homes with foreclosure home filings in July 2011 and is up from June 2011 with 275.  Foreclosure filings include notices of default, foreclosure auctions and bank repossessions.

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