Banks repossessed a record number of homes in August

09/14/2010 | CNBC

Sources at RealtyTrac confirm that banks in the U.S. repossessed just under 100,000 homes in August. It's the highest number of home repossessions since the online foreclosure sale site started tracking in 2005. Notices of Default are also up, mostly due to an increase in California where figures had been artificially low while banks sought to modify home loans.

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