Unemployment claims are rising month after month and now the banks are finally getting back to dealing with distressed properties that were temporarily put on hold do to a mortgage abuse settlement earlier this year.
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http://www.reuters.com/article/2012/...8HD88120120614U.S. foreclosure starts rose year-over-year in May for the first time in more than two years as banks resumed dealing with distressed properties after a mortgage abuse settlement earlier this year, data firm RealtyTrac said on Thursday. The $25 billion settlement between major banks and states, formally approved in April, had been expected to jump-start foreclosure proceedings that were previously stalled by uncertainty about the liability of banks. Overall foreclosure activity, which includes default notices, scheduled auctions and bank repossessions, affected 205,990 properties in May, a 9.1 percent increase from April.