Unemployment Still Fuels Foreclosures

Dymi, Amilda
April 2011
Mortgage Servicing News;Apr2011, Vol. 15 Issue 4, p20
The article reports on the impact of unemployment on property foreclosures in the U.S. According to James Saccacio, chief executive officer of RealtyTrac, high unemployment results to 72% rise of foreclosure activity in metropolitan areas. Moreover, data from RealtyTrac 2010 Year-End Metropolitan Foreclosure Market Report, reveal that rising rates remain and likely trigger foreclosure activities from 2011 and beyond.


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