Banks seize 42% more homes amid mortgage struggles

Foreclosure activity in the US increased significantly, with completed foreclosures surging 42% year over year, driven by more homeowners reaching the end of the foreclosure process. August saw over 40,000 properties receive foreclosure filings, with Texas leading in completed foreclosures and foreclosure starts. Despite the rise, experts note that overall foreclosure levels remain below pre-pandemic norms, indicating targeted financial distress rather than a broad housing crisis.

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