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US foreclosures up 71pc

Staff Reporter 1 minute read

Foreclosure filings in the United States surged by 71 per cent in the September quarter compared to same quarter in 2007.

Data released by RealtyTrac this week showed that more than 765,558 foreclosure filings were reported during the quarter.

However month on month, foreclosure filings did decline slightly, falling by 12 per cent from August to September.

RealtyTrac CEO James J. Saccacio said this was largely the result of new state laws that “have at least temporarily slowed down the pace at which lenders are moving forward with foreclosures”.

Published: 24-10-08

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