Foreclosure Radar reports in their April foreclosure report that Notices of Default dropped 18.2% in April from the record level in March. Notices of Trusee Sale also dropped by 8.5%. Properties taken to auction rose 35%, representing over $6 billion in loan value.
The number of foreclosures sold to third parties increased in April to 1,634, a 52.3% increase over March. This figure represents only 12% of the total, with 88% of foreclosed homes going back to the lenders.
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