Foreclosures Continue at Record Pace

August 2009
Point for Credit Union Research & Advice;8/1/2009, p1
The article reports an increase in foreclosure filings in the U.S. to a record for the third time in five months in July 2009. The factors which contributed to the trend were falling home prices and the recession, which left homeowners unable to keep up payments or refinance. According to RealtyTrac, a total of 360,149 properties received a default or auction notice or were seized in July.


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