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Meck foreclosure filings drop 16 percent

Mecklenburg County foreclosure filings decreased more than 16 percent in January from the same month last year, Irvine, Calif.-based RealtyTrac said today.

The county had 714 foreclosure filings in January, accounting for one in every 579 homes, down from 793 in December 2010 and down from 857 in January 2010.

The county reported 22 default notices, 510 foreclosure auctions and 182 bank repossessions in January, compared with 16 default notices, 454 foreclosure auctions and 387 bank repossessions in January 2010.

Meanwhile, the Charlotte metropolitan area reported 1,078 foreclosure filings in January, or one in every 691 homes, down nearly 19 percent from January 2010 and down more than 1 percent from December.

The metro area reported 93 default notices, 700 foreclosure auctions and 285 bank repossessions in January.

In January, North Carolina was ranked 35th in the U.S. for foreclosure filings. The state had 3,040 properties with foreclosure filings, for one in every 1,401 housing units.

South Carolina was ranked 22nd.

Foreclosure filings were reported on 261,333 U.S. properties in January, a 1 percent increase from the previous month but a 17 percent decrease from January 2010. The report also shows one in every 497 housing units received a foreclosure filing during the month.

“We’ve now seen three straight months with fewer than 300,000 properties receiving foreclosure filings, following 20 straight months where the total exceeded 300,000,” RealtyTrac CEO James Saccacio said. “Unfortunately this is less a sign of a robust housing recovery and more a sign that lenders have become bogged down in reviewing procedures, resubmitting paperwork and formulating legal arguments related to accusations of improper foreclosure processing.”

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