Lenders filed a record number of mortgage default notices against California homeowners during the first three months of this year, the result of the recession and of lenders playing catch-up after a temporary lull in foreclosure activity, a real estate information service reported.
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Big Banks Increase Foreclosure Activity
From the WSJ: Banks Ramp Up Foreclosures
J.P. Morgan Chase & Co., Wells Fargo & Co., Fannie Mae and Freddie Mac all say they have increased foreclosure activity in recent weeks. Those companies say they have lifted internal moratoriums which temporarily halted foreclosures.
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Citi, JPMorgan temporarily halt foreclosures
Banks announce weeks-long moratoria on foreclosures as the government works out a rescue plan for homeowners.
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Foreclosures eased in January
Moratorium sends foreclosure filings down 10% for the month.
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