First rise in foreclosure auctions in nearly four years

CNNMoney reports foreclosures are up 1 percent over the same time last year, the first such increase since late 2010. But experts cited in the report assuage any worries of another housing crisis.
 
According to RealtyTrac spokesman Daren Blomquist, the increase is attributable to delayed foreclosures dating back to 2010. The delay is the result of states enforcing laws and regulations to protect borrowers who were unfairly foreclosed on in the "robo-signing" scandal.
 
In many states, the report states, home owners must now be notified of the lender's intent to foreclose on their property and defaults must go through the courts.

Read more from CNNMoney.[[In-content Ad]]