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U.S. FORECLOSURE INDEX: Foreclosures Soar in March, Up 44 Percent Over February’s High

The first-quarter 2009 total is the highest quarterly total of completed foreclosures since the foreclosure crisis began. Pre-foreclosure filings – filings that could lead up to a completed foreclosure – also reached their highest quarterly level, topping 600,000 for the first time since the foreclosure crisis began.

While February and March headlines boasted of government efforts to stop foreclosures, in fact March was the first month when major government-backed lenders – including Fannie Mae and Freddie Mac – lifted moratoria on many properties in the first week of March. Only properties eligible for modification under the Obama administration’s plan were covered by continuing foreclosure moratoria, according to statements by the two agencies.

http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20090415005230&newsLang=en