Pursuits
U.S. Mortgage Foreclosures Fall From Record on Employment
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Mortgage foreclosures declined in the first quarter from a record high as U.S. employment and personal income rose, a sign the economic recovery may be helping to limit defaults.
The share of home loans in foreclosure fell to 4.52 percent from 4.64 percent in the prior three months, the Mortgage Bankers Association said in a report today. New foreclosures slid to 1.08 percent of loans from 1.27 percent.