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Home repossessions at record high

Thursday, October 14, 2010 - 00:59

Oct 14 - Summary of top business headlines: U.S. home foreclosures top 100,000 record in one month; Jobless spike lifts Federal Reserve expectations. Conway G. Gittens reports.

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For the first time on record home foreclosures surged past 100000. In the single month. According to realty track more than one version 2000 bank -- this took place in September. The second firms says growing allegations that banks admitted inappropriate for closer documentation. Is only making the problem worse. Unless the beleaguered housing market -- the anemic economic recovery do not need. Joblessness also continues to pose a threat to both the housing market and the economy first time unemployment claims rose more than expected last week. Meantime the number of Americans receiving jobless benefits beyond the first week dropped to a near two year low but that number are still stands well above four million. Economists believe the data firm expectations the Federal Reserve will pump more money into the economy. Cuddly kittens Reuters.

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Home repossessions at record high

Thursday, October 14, 2010 - 00:59