Economy

Bank repossessions jump nationally

Banks were more aggressively foreclosing on homes both in Whatcom County and across the U.S. in the third quarter of 2010, according to a new national report.

Whatcom County residents received 331 foreclosure notices from July through September, up 47 percent compared to the previous quarter, according to RealtyTrac, an online database for foreclosure property. Of those notices last quarter, 142 were bank repossessions, up 73 percent from the previous quarter.

The trend of rising bank repossessions was similar across the state and the nation last quarter. Washington state had 7,212 bank repossession notices last quarter, up 59.7 percent from the previous quarter. The U.S. tallied 102,134 bank repossessions in September alone, a record monthly total. It's the first time bank repossessions passed the 100,000 mark in a single month, according to RealtyTrac.

Read the complete story at bellinghamherald.com

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