Industry NewsMarkets & Economy

Foreclosures back to 2007 levels

RealtyTrac expects pace to pick up this year as 'robo signing' fades
Published on Jan 12, 2012

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by CareyBot

Lenders foreclosed on homes last year at the lowest rate since 2007, but are expected to pick up the pace again this year as they put the "robo signing" scandal behind them.

A total of 1.89 million homes were subjected to some type of foreclosure-related filing in 2011, including default notices, scheduled auctions and bank repossessions, according to public records compiled by RealtyTrac. That's a 34 percent drop from 2010.

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