State News

Statewide pace of foreclosures slowed in October

THE ASSOCIATED PRESS

Published: November 11, 2009

CHARLOTTE
The rate of home foreclosures in North Carolina slowed last month compared with recent months.

The Charlotte Observer reported Wednesday that foreclosure filings in the state dropped by 3 percent compared with October 2008. More than 6,000 homeowners filed for foreclosure in North Carolina last month.

The newspaper reported that the slowing increase of home foreclosures comes largely because of the comparison with last year's surge in filings.

Mecklenburg County had a 15 percent increase in foreclosure filings compared with October 2008. But some recent monthly increases were 80 percent compared with the same month last year.

Mecklenburg County's 1,129 filings last month accounted for one-fifth of the state's total. North Carolina is on pace for a record-breaking 60,000 filings for 2009.