Real Estate

Foreclosure filings in R.I. up 4 percent

FORECLOSURE FILINGS IN Rhode Island rose 4 percent during the first half of the year, RealtyTrac said Thursday.
Posted 7/28/11

PROVIDENCE – Foreclosure filings in Rhode Island rose 4 percent during the first half of the year compared with the same period last year, RealtyTrac said Thursday.

The Irvine, Calif.-based real estate firm said 3,095 Ocean State homes received foreclosure filings of some type between Jan. 1 and June 30, up from 2,979 a year ago.

In Providence County, filings fell 4 percent, in Bristol County, 7 percent and in Newport County, 15 percent. Filings rose 18 percent in Kent County and 80 percent in Washington County.

Nationally, RealtyTrac said that foreclosure filings dropped 29 percent compared with the first half of last year. Compared with the second half of 2010, filings fell 25 percent.

“Foreclosure activity continued to slow in the first half of 2011, especially in the most foreclosure-saturated markets and in markets where the judicial foreclosure process is used,” RealtyTrac CEO James J. Saccacio said. “The 20 metro areas with the biggest year-over-year decreases in foreclosure activity were all in states with judicial foreclosure processes.”

Rhode Island, however, saw no slowdown. Filings in the Ocean State rose by 23 percent compared with the second half of last year and touched 1 in every 146 housing units.

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