California, Florida Top States for Foreclosure Activity in Sept 2010

California, Florida, Arizona, Illinois and Michigan hold the dubious distinction of being the top five states with the most properties in some stage of foreclosure according to a recent report in AOL's HousingWatch.com. 

Even more daunting is the news that the banking industry set a record for the number of repossessions in September 2010. According to statistics posted in RealtyTrac, a total of 102,134 bank repossessions were recorded. This record setting number, though, precedes the latest robosigning foreclosure scandal that has led to major banks imposing a moratorium on foreclosure actions while their document signing and processing procedures are reviewed for compliance with foreclosure laws.

The shear increase in the number of foreclosure actions coupled with the shabby foreclosure document procedures that have recently come to light leads our firm to believe that there will be a correspondingly higher number of wrongful pre-foreclosure lockouts, home seizures and trashouts. Some states have very specific laws that prohibit a bank from seizing a home before a foreclosure action takes place, yet we continue to hear stories from consumers that it is happening to them.

If you've been the victim of a pre-forclosure lockout, home seizure or trashout, you may have important legal rights. Get our FREE book now or contact us for a no-cost case evaluation.