Industry NewsMarkets & Economy

Foreclosure starts hit new peak

RealtyTrac report shows drop in REO filings
Published on Sep 10, 2009

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by CareyBot

The number of properties completing the foreclosure process and becoming bank-owned declined in August, but a record number of homes entered the foreclosure pipeline, data aggregator RealtyTrac said today.

The report shows there is still an "ample supply" of properties in the foreclosure pipeline, even as the outflow of real estate-owned (REO) properties onto the resale market is more carefully regulated, said James J. Saccacio, chief executive officer of RealtyTrac, in a press release.

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