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    Sunday, May 19, 2024

    Pace of foreclosures slows in Connecticut

    Foreclosures in Connecticut were down more than 22 percent last month compared to the same period last year, national information service RealtyTrac said Thursday.

    Connecticut bucked a nationwide uptick in foreclosures. More than 360,000 U.S. properties were subject to a foreclosure filing last month, a rise of 32 percent from July 2008.

    "July marks the third time in the last five months where we've seen a new record set for foreclosure activity," said James J. Saccacio, chief executive officer of RealtyTrac, in a statement. "Despite continued efforts by the federal government and state governments to patch together a safety net for distressed homeowners, we're seeing significant growth in both the initial notices of default and in the bank repossessions."

    The state ranked 29th in the country in total foreclosure filings last month, with one out of every 917 housing units in financial trouble. This compares to Nevada, the state with the highest foreclosure rate, where one in every 56 units recorded a filing.

    The state recorded 1,569 foreclosure filings last month, according to Irvine, Calif.-based RealtyTrac. New London County has about 230 foreclosed properties on the market.

    Foreclosure filings include default notices, auctions and bank repossessions.

    Four states - California, Nevada, Arizona and Florida - account for more than half of all foreclosures nationwide.

    l.howard@theday.com