SEATTLE-According to RealtyTrac home repossessions in the USfell 9% from September to October. The number of US homes reclaimedby lenders fell last month, as the process was temporarily stoppeddue to mishandling of foreclosures.
Lenders including Bank of America, JPMorgan Chase & Co. andAlly Financial's GMAC Mortgage suspended their foreclosure activityduring late September. More than 909,000 homes have been seized bybanks in the first 10 months. Unemployment and reduced incomecontinue to be the accelerators for foreclosures. For thefull story, go to Seattle Times.
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