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Friday, June 15, 2012

''U.S. foreclosures up for 1st time in 27 months''

From Reuters


''By moving houses out of the so-called "shadow inventory" and onto the market, the increase in foreclosures could be a drag on the fragile U.S. housing recovery, which has shown signs of gaining a bit more traction in the last few months.

"That the May numbers were up the month after that settlement was completed is an indication that lenders are more confident that there are clear ground rules to foreclose now," said Daren Blomquist, RealtyTrac's vice-president.''

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