Forclosures Spike in April 2009
A record number of foreclosure filings took place during April, but the number of repossessions fell 11%.
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.
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posted by Victor Lloyd Smith @ 9:36 AM
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