Foreclosures Increase 11.2% in Third Quarter over Second Quarter of 2010. And that means…

"According to Wednesday’s report released by the Office of the Comptroller of the Currency (“OCC”) and Office of Thrift Supervision (“OTS”), there were nearly 245,000 completed foreclosures in the third quarter of 2010, which represents an 11.2 percent increase over foreclosures completed during previous quarter. The report, however, only tells part of the story as it covers only 64% of mortgages that are held by national banks and thrifts."