The real estate forecasting firm says 2.87 million homes got a notice of default, auction or repossession last year, up only 2% from 2009.

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The newspaper reported that ReconTrust, a division of Countrywide Financial, filed a notice of default related to a loan for McMahon's house in Los Angeles County Recorder's Court on Feb. 28.

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In it, Kapnick said Greenwich failed to comply with the terms of its agreement, which only allowed a suit after it served the trustee, Countrywide, with written notice of default, obtained written notice from holders of 25% of the remaining voting units, and agreed to indemnify the trustee.

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While foreclosures were up year-over-year, the number of properties that received an initial default notice fell by 19% from October 2009.

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On April 15, 2009, over six months after Chase Bank was served with notice of the lawsuit, Webeland filed a motion for a preliminary default, which was entered the following day.

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In October 2010 she shocked Wall Street by sending BNY Mellon and Bank of America a notice of nonperformance, the first step in a process that could have allowed Patrick to declare a default on those bonds and sue BofA directly on behalf of the trusts.

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