Pickup in Foreclosure Activity

Lenders foreclosed on 64,813 properties last month, and are now on track to repossess 800,000 this year.   228,098 U.S. homes received a foreclosure-related notice last month. That translates to one in every 570 U.S. households.

The increase in foreclosure processing by the banks could also mean a potentially faster turnaround for the U.S. housing market. Experts say a revival isn't likely to occur as long as there remains a glut of potential foreclosures hovering over the market.