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Zombie foreclosures still haunt housing market
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Wednesday, March 19, 2014
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A new report from RealtyTrac, a provider of national housing data and analytics, shows that owner-vacated foreclosures, sometimes called zombie foreclosures, are a problem that just won’t die in many areas across the country.
RealtyTrac released the results of its U.S. Foreclosure Market Report for February on March 13. The report is used to track foreclosure filings — default notices, scheduled auctions and bank repossessions — throughout the U.S.
The report showed that although foreclosure filings dropped 10 percent between January and February and 27 percent year over year — putting the overall total at its lowest rate since December 2006 — zombie foreclosures continue to flood the market.
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