Foreclosure filings hit 19-month high

Default notices, schedule auctions or bank repossessions reported on nearly 127,000 US properties

The volume of foreclosure filings reported in May was 16 percent higher than a year ago, according to RealtyTrac, and default notices, schedule auctions or bank repossessions (REOs) were reported on 126,868 U.S. properties, marking a 19-month high for filing volume.