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Foreclosure Numbers Offer Mixed Messages

U.S. foreclosure activity in July sent mixed signals with overall filings — including default notices, auction notices and bank repossessions — declining for the twenty-second straight month while new foreclosure actions posted year-to-date increases for the third consecutive month, according to online research and marketing firm RealtyTrac.

Total foreclosure filings in July dropped 3 percent from the previous month and were down 10 percent from July 2011. That continues the pattern of month-to-month declines that began when the “robo-signing” crisis broke in late 2010.

Foreclosure starts were 6 percent higher than during the same period last year, but also reflected a 6-percent drop from June 2012.

RealtyTrac Vice President Daren Blumquist credited the mixed numbers largely on recent legislation and court rulings dealing with “robo-signing” issues.

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