Mortgage foreclosures up 58%
The number of U.S. homes facing foreclosure
surged 58 percent in the first six months of the year.
The number of U.S. homes facing foreclosure surged 58 percent in the first six months of the year, the latest sign of mounting problems in the mortgage industry, a data firm said Monday.
In all, 573,397 properties across the nation reported some sort of foreclosure activity in the first half of this year, including receiving notices of default, auction sale notices or being repossessed by lenders.
“We could easily surpass 2 million foreclosure filings by the end of the year, which would represent a year-over-year increase of over 65 percent,” said RealtyTrac CEO James J. Saccacio.
In the RealtyTrac report, California led the nation in foreclosure filings and the number of homes receiving notices.
Ah, the Golden State is always in the lead.
Posted: Thu - August 2, 2007 at 10:47 AM