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Foreclosure activity increases in October

Foreclosure filings increased 7 percent compared with September, according to the latest report from RealtyTrac.

Including notices of default, scheduled auctions, and bank repossessions – of which all increased month-over-month – filings were reported on 230,678 U.S. properties in October.

Defaults in California, Florida, and Michigan all rose to their highest levels in at least a year. California notices of default increased 17 percent from the previous month to 29,240, pushing the state’s foreclosure rate to the second highest in the nation.

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