A new report from RealtyTrac, an online marketer of foreclosed homes, has found that bank repossessions hit a record monthly high in May with 93,777 repossessions. This represents a 1 percent increase from the previous month and a 44 percent increase from the same period last year.
Ultimately, one in every 400 homes received a foreclosure notice last month. But on a better note, foreclosure filings in May dropped 3 percent from the previous month and 1 percent from the year prior. (CNN Money)
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