Economy

Home Foreclosures Jump 21 Percent In The Third Quarter

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According to the latest data from the Office of the Comptroller of the Currency (the regulator for national banks), home foreclosures jumped 21 percent in the third quarter, “as banks moved more aggressively after a pause to review how they deal with troubled borrowers.” Banks had slowed their foreclosure activity after the foreclosure fraud scandal broke and it became apparent that banks were submitting falsified documents to courts. Nearly 350,000 homes were foreclosed upon in the quarter.