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REO Surge Signals Foreclosure “Clean-up”

Foreclosure activity increased by 20 percent in
March compared to February and was up 4 percent from a year earlier.  RealtyTrac, in its combined March and 1st
Quarter 2015 report said it was the first annual increase in foreclosure
filings, which include default notices, scheduled auctions, and completed
foreclosures or bank repossessions, since September 2010 but that the increases
indicated a cleanup of lingering problems rather than a new round of
distress. 

Despite the substantial month over month and small
annual increase for the month the quarterly total was down.  Filings were 7 percent lower than in the 3rd
quarter of 2014 and down 8 percent year over year to the lowest level in eight
years.

 

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