Bank residential repossessions hit new monthly high in U.S.

06/11/2010 | U.S. News & World Report

Banks repossessed about 94,000 homes last month, setting a new high, according to RealtyTrac's U.S. Foreclosure Market Report. As lenders put the houses on the market, they will further depress the prices of houses generally, economists said. On a positive note, the Mortgage Bankers Association said the 30-day delinquency rate has improved.

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