St. Louis-area foreclosure filings climb in January

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St. Louis-area foreclosure filings climb in January
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The number of St. Louis-area homeowners facing foreclosure swung back up in January, after two months when banks put on the brakes.

Filings of foreclosure sales and repossessions in the region were up 10 percent from December to January, and ran 16 percent ahead of last January's clip, according to new numbers this morning from RealtyTrac.

The real estate data firm reports that 1,688 local homes were either set for a foreclosure auction or repossessed in the month. That's below the record pace set for much of last year, though more than were filed last January.

Foreclosure activity has slowed since October, when the so-called "robo-signing" scandal caused some lenders to put a moratorium on mortgage actions. But the uptick here in January is a sign that banks are starting to work through their backlogs. Filings, according to RealtyTrac, climbed faster last month in states like Missouri, where foreclosures need not go before a judge, and where, often, paperwork requirements are less.

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