North Carolina Foreclosure Filings Up 66pc in 2007

North Carolina - January 29, 2008 - Foreclosure filings increased by 66.5 percent in North Carolina in 2007, according to California data-tracking company RealtyTrac.

The figures provided by RealtyTrac are significantly different than those provided by the state. The North Carolina banking commissioner’s office says there were 49,754 foreclosures in 2007, up just 9.4 percent.

RealtyTrac, however, counts individual foreclosure filings - default notices, auction sale notices and bank repossessions. There are frequently multiple filings on the same address, helping to make the company’s figures different than the official state numbers.

The company said Tuesday that there were 37,426 foreclosure filings last year in the state, representing 29,101 unique addresses.

RealtyTrac also estimated that 0.739 percent of North Carolina households faced some kind of foreclosure filing in the year, a percentage that puts the state 18th overall.

Nevada had the top foreclosure rate for 2007, with 3.4 percent of its households entering some stage of foreclosure, RealtyTrac said. Florida and Michigan were Nos. 2 and 3.

Nationally, foreclosures were up 75 percent, RealtyTrac said.

N.C. foreclosure filings up 66.5% in 2007
Triangle Business Journal