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IRVINE, CA—A slight rise in US residential foreclosure filings for the first time in three years indicates that lenders are pushing through lingering non-performing loans, says RealtyTrac's VP Daren Blomquist in a new report. The firm says foreclosure filings were up in the third quarter .42% from the previous quarter—the first quarterly increase since the third quarter of 2011—although this figure was down 16% from a year ago.
The quarterly increase in overall foreclosure activity was driven by a 2% increase in default notices and a 7% quarterly increase in scheduled foreclosure auctions, RealtyTrac reports. Meanwhile, bank repossessions decreased 12% from the previous quarter.
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