Record number of foreclosures in Pittsburgh region in first quarter

The number of foreclosures in the Pittsburgh region set a record high in the first quarter with 1,187 homeowners returning their keys to the bank.

The total number of first-quarter foreclosures in the five-county region was 24 percent higher than the previous record of 957 foreclosed homes in the third quarter of 2007, according to a report from South Side-based RealSTATs, a real estate information firm.

It was the first quarter -- since RealSTATs began keeping foreclosure records in 1993 -- to record more than 1,000 foreclosures.

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