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Morning Mortgage Meltdown: Foreclosure Sales Reach Record

New record! Sales of foreclosed homes in California topped 1,000 per day in April for the first time in the state's history; foreclosure sales jumped 44 percent from March to a record of 22,838 sales. Lenders are also reportedly adding foreclosed homes to their stocks 1.36 times faster than they're able to sell them. Heartening. [East Bay Biz Journals]