Home Repossessions Hit Nine-Month High

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The number of homes repossessed in the United States hit a nine-month high in November.

Foreclosure listing firm Realty Trac said banks completed foreclosure on more than 59,000 homes last month. That's an increase of 11 percent from October and up 5 percent from November 2011.

But the number of homes entering the foreclosure process sank to it's lowest number since 2006 to about 77,500.

Bank repossessions, however, remain high. They are on pace to exceed 650,000 this year, down from 800,000 last year.

The data found that Florida had the highest foreclosure rate, twice the national rate.

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