Originally posted on Sept 3, 2009
The following was reported in RealtyTrac’s August 2009 Foreclosure Market Trends Report:
Arizona reported 19,694 properties with foreclosure filings for the month, a 17 percent increase from the previous month, and 48 percent above the level reported in July 2008, according to the latest RealtyTrac U.S. Foreclosure Market Report. “Arizona foreclosures are up significantly in July from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “With unemployment at 9.2 percent in July, Arizona homeowners are struggling with rising joblessness and the growing risk of negative equity.”
Navajo County reported 172 filings of Notice of Trustee Sale, and 64 filings of REO (REO stands for Real Estate Owned, which means the property is lender owned).