The real estate market had started to stabilize on signs that foreclosure inventory was decreasing but a rise in foreclosure starts suggests that a tidal wave of foreclosures is building, especially in states with a judicial foreclosure process.

So says Mamta Badkar (www.businessinsider.com) in edited excerpts from his recent post*.

 Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!) and www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) has edited the article below for length and clarity – see Editor’s Note at the bottom of the page. This paragraph must be included in any article re-posting to avoid copyright infringement.

Badkar goes on to say, in part:

Foreclosures fell 10 percent year-over-year in July and 3 percent from last month, according to RealtyTrac…but foreclosure starts – default notices or scheduled foreclosure auctions – increased 6 percent on a year-over-year basis increasing on an annual basis in 27 states, jumping 201% in Connecticut; 164% in New Jersey; and 139% in Pennsylvania.. This represents the third consecutive month of increases after 27 straight months of declines.

Here’s a chart from RealtyTrac that shows the 10 states where foreclosure starts climbed the most in July:

Chart: RealtyTrac

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*http://www.businessinsider.com/foreclosure-starts-rise-in-july-2012-8#ixzz23GhIBfeo  (To access the above article please copy the URL and paste it into your browser.)

Editor’s Note: The above post may have been edited ([ ]), abridged (…), and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.

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