Foreclosures Third Highest on Record in May
U.S. foreclosure activity for May ebbed from April’s record, but mortgages still failed at a staggering pace as President Barack Obama’s rescue programs had not had time to fully take root, RealtyTrac said on Thursday.
Foreclosure filings dipped 6% in the month but increased 18% from May 2008, marking the third highest month on record.
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