U.S. foreclosures up 25% in October over last year

11/13/2008 | Bloomberg

U.S. foreclosure filings increased 25% in October compared with the same month last year, indicating a slowing of foreclosure activity. But RealtyTrac CEO James Saccacio said the number understates the severity of the problem. The net effect "may be merely delaying inevitable foreclosures," he said.

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