Wednesday, April 01, 2009

Dramatic increase in prime-loan foreclosures

Foreclosure starts and foreclosure sales of homes purchased with prime loans increased dramatically from January to February, and the percentage of homes completing the foreclosure process approached highs not seen since last summer.

The latest report from mortgage servicers participating in the lending industry's HOPE NOW alliance shows that despite continued strides in helping subprime borrowers avoid foreclosure, foreclosures and foreclosure sales among prime borrowers continue to climb.

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