Fewer people received mortgage default notices in April, according to a report by foreclosure data company RealtyTrac. At the same time, bank repossessions shot up to a new monthly high.

"(Those) were two important milestones … that show foreclosure activity has begun to plateau — but at a very high level that will not drop off in the near future," said James J. Saccacio, ReatyTrac’s CEO, in a statement.

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