Default notices sent to delinquent U.S. homeowners surged 33 percent in August from the previous month, a sign that lenders are speeding up the foreclosure process after almost a year of delays. The jump in default notices means repossessions probably will increase in coming months as more foreclosures are processed. Default notices increased from July by 42 percent in New Jersey, according to RealtyTrac.
Lenders Speed Up the Foreclosure Process
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