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LOS ANGELES (AP) — Banks have stepped up their actions against homeowners who have fallen behind on their mortgage payments, setting the stage for a fresh wave of foreclosures. The number of U.S. homes that received an initial default notice — the first step in the foreclosure process — jumped 33 percent in August from July, foreclosure listing firm RealtyTrac Inc. said Thursday. The increase represents [...] Mike “Mish” Shedlock, Global Economic Trend Analysis At long last, the robo-signing scandal may have finally played out. As evidence, please note the August Surge in Mortgage Default Warnings: The number of U.S. homes that received an initial default notice — the first step in the foreclosure process — jumped 33 percent in August from July, foreclosure listing firm RealtyTrac Inc. said Thursday. The increase represents a nine-month high and [...]
LOS ANGELES — Sales of homes in some stage of foreclosure declined in the first three months of the year, but they still accounted for 28 percent of all home sales — a share nearly six times higher than what it would be in a healthy housing market. Foreclosure sales, which include homes purchased after they received a notice of default or were repossessed by lenders, [...] |
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