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Another wave of foreclosures is poised to strike
Mortgage defaults have surged to record levels spurred by rising unemployment and falling home prices; Lenders are expected to move quickly to clear up backlogs as moratoriums on foreclosures expire
Just as the nation's housing market has begun showing signs of stabilizing, another wave of foreclosures is poised to strike, possibly as early as this summer, inflicting new punishment on families, communities and the still-troubled national economy.
Amid rising unemployment and falling home prices, mortgage defaults have surged to record levels this year.
Until recently, many banks...
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