The rate at which lenders actually foreclosed on delinquent homeowners was slightly less scary. Trustee sales in July weighed in at 686, a decline of 7 percent from June. However, such foreclosure sales are still up 261 percent from July 2006 and are occurring at faster pace than they did in any but a few months of the 1990s.
Readers seeking more detail on the import of these numbers may be interested in last month’s foreclosure update, which is quite a bit heavier on the editorializing, or in a recent article about housing demand and must-sell supply.
— RICH TOSCANO