Townsend Appraisal Commentary

And a fresh drop in home prices is likely to result.

Banks have stepped up the pace of home seizures after a year-long slowdown brought on by the "robo-signing" scandal in which banks were accused of seizing properties without a proper review of loan documents.

The number of foreclosure filings -- which include default notices, scheduled auctions and bank repossessions -- edged up 0.3 percent in the third quarter, reversing a trend of three straight quarterly declines, according to real estate data firm RealtyTrac.

The increase was driven by a 14 percent jump in default notices, the first gain in five quarters and a sign lenders were preparing to step up repossessions of homes.

To read the FULL story, click here: Mounting Foreclosures