Mortgage defaults in September were down 8 percent from August, but still double the rate from a year earlier, according to RealtyTrac. “September’s total was still the second highest monthly total we’ve seen since we began issuing our report in January of 2005,” said RealtyTrac CEO James Saccacio. The default rate was highest in Rust Belt and Sun Belt states. Nevada led the pack, with one in every 185 households filing. (CNNMoney.com)
The Bottom Line
October 11, 2007
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