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Mecklenburg County foreclosure activity jumped again last month.
Foreclosure filings increased 59 percent last month, to 1,103, compared with 693 in June 2008. That marked the county's fourth straight month above 1,000 filings, but it was a little lower than the May count and well below April's record of 1,606. The percentage increase, while big, was an improvement over hikes in April and May.
Mecklenburg typically leads the state in filings, which are the start of foreclosures. Some homeowners will work out repayment plans while others won't and will lose their homes in final foreclosure actions.
Four of the state's five largest increases, based on number of filings, came in the Charlotte area, according to an Observer analysis of state data. Gaston, Iredell and Union counties also jumped from June 2008. At 91 percent, Union logged the region's biggest percentage gain.
Filing increases have been unusually big for several months because filings were delayed earlier this year by lenders' foreclosure moratoriums and a new state law. From November through February, filings fell sharply. Now the backlog is working through the system, inflating filings.
Statewide, filings were up 27percent compared with June 2008, worse than May but better than April's 49 percent surge. For the year so far, N.C. filings are down more than 2.5percent compared with the first six months of 2008, a record year. Job losses, wage cuts and falling home values are likely to drive filings higher statewide.
Mecklenburg filings are up 35 percent for the year.
Database editor Ted Mellnik contributed.
Stella M. Hopkins: 704-358-5173
