Despite recent improvements in foreclosure activity, the month of October saw a slight increase, according to RealtyTrac.
The firm's U.S. Foreclosure Market Report showed foreclosure filings were reported on 186,455 properties, which was a 3 percent increase from September. When compared to the previous year, though, activity was down 19 percent.
"We continued to see vastly different foreclosure trends across the country in October, depending primarily on how each state's foreclosing infrastructure was able to handle the high volume of delinquent loans during the worst of the foreclosure crisis in 2010," said Daren Blomquist, vice president of RealtyTrac.
With one in every 312 housing units having a foreclosure filing in October, Florida posted the highest foreclosure rate for the second straight month. New Jersey and New York had the biggest increases in foreclosure activity with 140 and 123 percent jumps respectively.
One of the many options borrowers choose to try and avoid foreclosure is refinancing their mortgage. The Mortgage Bankers Association reported a 13 percent increase in refi activity in the week ending November 9, which could help borrowers avoid foreclosure in the future.
