June 11, 2009
US-BUSINESS Summary: May U.S. foreclosures third highest on record
US-BUSINESS Summary
May U.S. foreclosures third highest on record
NEW YORK (Reuters) - U.S. foreclosure activity for May ebbed from April's record, but mortgages still failed at a staggering pace as President Barack Obama's rescue programs had not had time to fully take root, RealtyTrac said on Thursday. Foreclosure filings dipped 6 percent in the month but increased 18 percent from May 2008, marking the third highest month on record.
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