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Thursday, March 15, 2012

Home Default Notices Rise in February: RealtyTrac

(Reuters) - The number of Americans receiving delinquency notices on their homes rose in February from January, while the backlog of homes in the foreclosure pipeline showed signs of starting to ease, a report said on Thursday.

Default notices were filed for the first time on 58,886 homes last month, up 1 percent from January, though still down 7 percent from February 2011, a report from RealtyTrac showed.

A dozen states saw increases of 20 percent or more compared with the year before, including Hawaii, Florida and Massachusetts.

Overall foreclosure filings - which include default notices, scheduled auctions and bank repossessions - decreased 2 percent from January to 206,900 homes, and were down 8 percent from February 2011.

But there was a divide in the pace of activity among the states, depending on the structure of their foreclosure process, which suggested some of the homes in the pipeline were starting to move.

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