September Foreclosure Numbers Fall 8%

The foreclosure numbers for September are in and it appears that they, as a whole, have fallen. September was 8% off its highs in August with “only” 223,538 filings, according to RealtyTrac, but are still twice as many as one year ago.

States in the Sun Belt and the Rust Belt continued to dominate foreclosure filings.

Nevada led the pack in the rate of September filings: one for every 185 households for a total of 5,504. Other hard-hit, Sun Belt states were Florida (one in 248), California (one in 253), Arizona (one in 316), Georgia (one in 316), Colorado (one in 326) and Texas (one in 615).

What does this mean for folks facing a crunch? It only means that lenders are more likely to work with you. If you’re in an ARM that will reset, don’t wait around to see if someone in Washington will lend you a hand (those guys are notoriously slow anyway), call up your bank and see if you can work something out. You might qualify for a refinance, you might not; calling is the only way you’ll find out.