November 24, 2014
RENO, Nev. (AP) - Trustee sale notices for distressed properties in Washoe County climbed sharply in March, signaling another potential wave of bank-owned foreclosures this summer.
A report by national foreclosure tracker RealtyTrac says trustee sale notices totaled 652 last month, more than double the 282 in February. The figure also is up 75 percent from March 2009.
A trustee sale notice follows a default notice and indicates a property can be sold on the courthouse steps. Properties that don't sell end up as bank-owned foreclosures.
By contrast, default notices fell by 10 percent to 771. There were 196 actual bank-owned foreclosures in March, up nearly 7 percent.
Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.