Report: U.S. foreclosure filings hit record

10/15/2009 | Bloomberg

U.S. foreclosure filings hit a record in the third quarter, according to a report by research firm RealtyTrac released today. A total of 937,840 homes entered the foreclosure process, a 23% increase from a year earlier. Analysts warned that increased foreclosures were likely to exert pressure to lower home prices, with a total of 7 million homes nationwide at some point in the foreclosure process.

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