U.S. foreclosure actions spike in Q1 despite aid

U.S. foreclosure actions spike in Q1 despite aid
http://www.reuters.com/article/idUSNYS0079...ype=marketsNews

Foreclosure activity jumped 19 percent to a monthly record in March, driving first-quarter actions up 7 percent from the prior quarter and 16 percent from a year ago to a record of more than 932,000 properties.

One in every 138 U.S. households got a foreclosure filing in the quarter such as a notice of default, auction or bank repossession.

Banks took back more than 257,000 properties in the quarter, a record high, putting repossessions on pace to shatter last year's record of more than 918,000 properties.

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