Despite Freeze, CT Foreclosures Rise In September

Connecticut’s foreclosure numbers continue to swing, with the rate of filings rising 16% in September. As WNPR’s Harriet Jones reports, that’s despite the voluntary freeze put in place by several lenders.

There were just over 2,000 foreclosure filings in Connecticut in September, 16% more than in August, but actually 3% fewer than in September last year. The courts in the state are due to rule soon on a request by Attorney General Richard Blumethal that all foreclosures be halted for at least 60 days after the discovery of what’s been dubbed robo-signing, the practice of processing of court affidavits relating to foreclosure with little or no regard to accuracy. But at least five lenders, among them Bank of America and GMAC have already voluntarily suspended foreclosures as they investigate the claims.

This spring, Connecticut seemed to establish a definite downward trend in foreclosures, with the rate of filings falling off in April, May and June. But then July saw a bump, and there’s been no clear pattern in the months since. Connecticut’s foreclosure rate remains below the national average. The state ranks 26th in filings per household, at one in every 695 homes.

For WNPR, I'm Harriet Jones.