Foreclosures: ‘April was a shocker’
Foreclosures: ‘April was a shocker’
A record number of foreclosure filings took place during April, but the number of repossessions fell 11%.
NEW YORK (CNNMoney.com) — Foreclosures in April exceeded even March’s blistering pace with a record 342,000 homes receiving notices of default, auction notices or undergoing bank repossessions, according to a regular industry report.
One of every 374 U.S. homes received a filing during the month, the highest monthly rate that RealtyTrac, an online marketer of foreclosed properties, has recorded in four-plus years of record keeping.
Record Jump in Foreclosure filings
Foreclosure filings in record jump
Hope Now reports a 20% increase in initial foreclosure filings during March. But there was a steep drop in bank repossessions.
NEW YORK (CNNMoney.com) — Lenders continued to rewrite troubled mortgages at a fast clip during March, but the weakening economy still sent foreclosure starts soaring to a record high.
March mortgage workout results announced on Thursday by Hope Now – a coalition of mortgage lenders, servicers, investors and community groups put together to fight the foreclosure plague – were a decidedly mixed bag.