Banks Repossess Record Number of U.S. Homes In Q2 ; Report

Banks repossessed a record number of U.S. homes in the second quarter,  real estate data company RealtyTrac said on Thursday. “Default and auction notices were down on a quarter-over-quarter and year-over-year basis in the second quarter, but bank repossessions (REOs) increased 5 percent from the previous quarter and 38 percent from Q2 2009 to 269,962 — a new quarterly high for the report.”