Price drop and the tax credit for home buyers are said to be the reason for the surge. According to the National Association of Realtors that home sales rose 7.2% to a seasonally adjusted annual rate of 5.24 million in July, from a pace of 4.89 million in June. It was the fourth-straight monthly increase and the highest level of sales since August 2007. For further details and the complete story check USAToday.
PrivoCorp (http://www.privocorp.com) processes the loans for the brokers and is not involved with the actual origination of these loans.
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