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Mortgage

Foreclosure activity falls 39% in Charlotte

According to the Charlotte Observer, Charlotte, N.C., area foreclosure filings dropped 39% in October from a year ago.

Filings were reported on 938 Charlotte-area properties in different stages of the foreclosure process. The biggest driver of the drop was a nearly 85 percent decline in auction notices, which fell to 152.

From September to October, foreclosure filings rose 32 percent in the Charlotte region, with bank repossessions the largest contributing factor, RealtyTrac data show. Nationwide, foreclosure filings increased 2 percent over the period.

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