U.S.
Foreclosures proceedings up 12% in May, setting stage for more home repossessions
June 14, 2012
June 14, 2012
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(AP) LOS ANGELES - New foreclosure data show that lenders initiated foreclosure proceedings against more U.S. homeowners in May, setting the stage for increases in home repossessions and short sales.
Foreclosure listing service RealtyTrac Inc. said Thursday that the number of homes receiving default or scheduled-home-auction notices rose 12 percent from April and increased 16 percent versus May last year.
U.S. mortgage rates fall to record lows again
Sales of foreclosure homes jumps
Average home prices hit mid-2002 levels
The data reflects how banks and mortgage servicers have been stepping up efforts this year to address unpaid mortgages.
Some 33
Foreclosure listing service RealtyTrac Inc. said Thursday that the number of homes receiving default or scheduled-home-auction notices rose 12 percent from April and increased 16 percent versus May last year.
U.S. mortgage rates fall to record lows again
Sales of foreclosure homes jumps
Average home prices hit mid-2002 levels
The data reflects how banks and mortgage servicers have been stepping up efforts this year to address unpaid mortgages.
Some 33
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