Industry NewsMarkets & Economy

Record number of homes in foreclosure

LPS report reveals hopeful long-term trends
Published on Dec 2, 2011

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by CareyBot

The foreclosure pipeline has never been more crammed, with lenders attempting to push 2.2 million homes through the process as of the end of October, according to a monthly report issued today by Lender Processing Services Inc.

Foreclosure starts jumped 5.7 percent from September to October, to 232,865, LPS said. But the report also showed significant improvement in the long-term outlook for foreclosures.

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