Talking Points …
- Newly started foreclosures rose 12 percent in October from September, according to a new report from RealtyTrac, a foreclosure listing company.
- This is the largest monthly increase since August 2011, and more than twice the gain from September to October in the last five years. Just over 48,000 properties started the process in October, still 14 percent less than a year ago.
- Part of the annual increase this year could be due to already troubled loans that were modified but are now re-defaulting. More than half (57 percent) of new foreclosures in August were re-defaults, according to Black Knight Financial Services.