Foreclosure Filings Spike in September

Irvine, CA, Nov. 13, 2014 -- Foreclosure filings were reported on 123,109 properties in October, according to tracking firm RealtyTrac.

That's up 15% from September, and the largest monthly increase since March of 2010. However, its still down 8% from a year ago.

“The October foreclosure numbers are not a complete surprise given that over the past three years there has been an average 8% monthly uptick in scheduled foreclosure auctions in October as banks try to get ahead of the usual holiday foreclosure moratoriums,” said Daren Blomquist, vice president at RealtyTrac.

“But the sheer magnitude of the increase this year demonstrates there is more than just a seasonal pattern at work."