Just in time for Halloween, RealtyTrac has released its third-quarter zombie foreclosure report, and says there are fewer than a year ago.
Zombie foreclosures are homes in which the owners have moved out before the foreclosure process has been completed, leaving the residence empty for up to a couple of years. RealtyTrac also include a graph showing that the foreclosure process has become more lengthy in the past seven years, from taking about 110 days in first quarter 2007 to 615 days in third quarter 2014.
Nationally, there were 117,298 zombie foreclosures in the third quarter, representing 18 percent of all active foreclosures. That’s down 17 percent from the second quarter and 23 percent from the same time last year.
Figures weren’t available for Charlotte on Wednesday, but in North Carolina zombie foreclosures have increased by 64 percent over the second quarter and 65 percent over third quarter 2013.