From Gazetta
"At its best, a recent surge in local foreclosure activity will add to the backlog of distressed properties depressing the real estate market.
At its worst, the record level of activity could be an indicator that the local economy is still in the doldrums.
Industry observers, however, don't put much stock in the latter, suggesting that a 66 percent increase in first-quarter foreclosure filings could instead be the result of aggression by lenders."
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