U.S. Foreclosures Jump 57% as Homeowners Walk Away (Bloomberg) — U.S. foreclosure filings jumped 57 percent and bank repossessions more than doubled in March from a year earlier as adjustable mortgages increased and more owners gave up their homes to lenders.
Bloomberg is reporting U.S. Foreclosures Jump 57% as Homeowners Walk Away. U.S. foreclosure filings jumped 57 percent and bank repossessions more than doubled in March from a year earlier as. "That works out to a lot of skin in the game, and will likely serve as strong motivation for borrowers not to walk away from a storm-damaged home," said Ben Graboske, Black Knight data and.
January foreclosures up 57% Filings saw yet another big jump last month, compared to levels a year ago; 45,327 homes were lost to bank repossessions.
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deleveraging, has raised financial stability concerns for many major national and regional banks. 1. Falling home prices, soaring mortgage defaults and an exorbitant rise in the LIBOR. 2 – the lending rate banks use as a benchmark to loan money – have recently made it impossible for many homeowners to refinance their mortgages to affordable.
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