Foreclosure Filings in U.S. Climbed to Record in First Quarter |
Bloomberg - Apr 16, 2009 |
U.S. foreclosure filings rose to a record in the first quarter as employers cut jobs in the recession and temporary programs to delay action on defaults came to an end, RealtyTrac Inc. said.
A total of 803,489 properties received a default or auction notice or were seized, 24 percent more than a year earlier, the Irvine, California-based seller of default data said in a statement today. Filings for the month of March totaled 341,180, also a record in four years of RealtyTrac data.
“Foreclosures haven’t peaked yet,” David Olson, president of the mortgage research firm Wholesale Access in Columbia, Maryland, said in an interview. “We’re catching up with what’s been delayed, and those foreclosures will have to be cleared.”
Read Full Article from Bloomberg
- Posted: 2009-04-16 07:50:55
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