Foreclosure Activity Ramps Up as Banks Begin to Clear Backlog

The Associated Press



LOS ANGELES -- More U.S. homes are entering the foreclosure process, but they're taking ever longer to get sold or repossessed by lenders.

The number of U.S. homes that received a first-time default notice during the July to September quarter increased 14 percent compared to the second quarter, RealtyTrac Inc. said Thursday.