Tag Archives: Real estate firms differ on definition of repossession

RealtyTrac Inc., announced this week that more than 75,000 residential and commercial properties were taken back by banks since the beginning of 2007 in Palm Beach and Broward counties. A few hours later, CondoVultures.com came out with its own report: in excess of 94,000 properties in the two counties were repossessed during the same period. Both firms say they get their information from public records. What gives? Seems they have different definitions of repossession. RealtyTrac, an Irvine, Calif.-based foreclosure listing firm, said it doesn’t count a repossession if a third […]