Banks took back more U.S. homes in January than in the previous month, the latest sign that foreclosures are accelerating after slowing sharply last year while lenders sorted out foreclosure-abuse claims.
Foreclosures rose 8 percent nationally last month from December, but were down 15 percent from a year earlier, foreclosure listing firm RealtyTrac Inc. said Thursday.
Despite the annual decrease at the national level, some states posted sharp increases compared to January 2011. In New Hampshire, foreclosures jumped 62 percent. In Massachusetts, 75 percent.
That trend is expected to strengthen this year in light of last week's $25 billion settlement between the nation's biggest mortgage lenders and 49 state attorneys general over the industry's handling of foreclosures.
Many banks and mortgage servicers processed foreclosures without verifying documents. Some employees signed papers they hadn't read or used fake signatures to speed foreclosures — a practice dubbed "robo-signing."
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