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On Thursday, RealtyTrac Inc. said that the number of US homes taken over by banks went up 35% in the first quarter from 2009. Moreover, households facing foreclosure increased 16% in the same period and 7% from the last three months of last year.
More homes were taken over by banks and scheduled for a foreclosure sale than in any quarter dating back to at least January of 2005, when RealtyTrac started reporting the data.
“We’re, right now, on pace to see more than 1 million bank repossessions this year,” said RealtyTrac’s Senior Vice President Rick Sharga. (more)
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