According to the latest RealtyTrac report, the sale of U.S. homes in foreclosure (including homes in the pre-foreclosure process as well those already possessed by the bank) rose 21 percent in the third quarter compared to the second quarter of 2012, but were 3 percent lower compared to last year, Reuters reports. In the Chicago area, pre-foreclosure sales climbed 65 percent when comparing year-over-year, the Chicago Tribune reports.
In other news:
Short sales outpacing sales of bank-owned homes – The Southern
Mortgage rates tick up, above record low – USA Today