No. of foreclosed homes to be auctioned quadruples due to hi

No. of foreclosed homes to be auctioned quadruples due to high borrowing costs

The number of home-backed non-performing loans referred for public auctions nearly quadrupled last year, due to sustained high borrowing rates brought on by rapid monetary tightening after the pandemic, data showed Thursday. A loan is non-performing if interest payments are 90 days past due and therefore considered unlikely to be repaid.

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