Foreclosure.com: Inventory Falls 6%

The nationwide inventory of foreclosed residential properties declined 6% in September, according to Foreclosure.com, an online foreclosure listing service based in Boca Raton, Fla.The decline is mainly attributable to the removal of all Department of Housing and Urban Development real-estate-owned properties in 11 states following Hurricane Katrina, including Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Oklahoma, South Carolina, Tennessee, and Texas, Foreclosure.com said. There were 20,347 new foreclosed residential properties listed in the United States in September, and such properties totaled 87,717 overall, the company reported. "During the second quarter of 2005, new foreclosure inventory in the U.S. has stayed relatively flat," said Brad Geisen, president and chief executive officer of Foreclosure.com. ".... Some influences such as high fuel costs, rising interest rates, recent natural disasters, and changes in bankruptcy law could quickly disturb the current environment." The company can be found online at http://www.foreclosure.com.