Foreclosures

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Foreclosures Rise Sharply


Nationally, one of every 194 U.S. households received a foreclosure filing in the first three months of 2008, according to recent figures from RealtyTrac.

There were nearly 650,000 foreclosure filings -- which include notices of default, auction sales and bank repossessions -- issued during the first quarter of 2008. That's up 23 percent from the last quarter of 2007, and up a staggering 112 percent from the same period a year ago.

Foreclosures increased in 46 states and in 90 of the nation's 100 largest metro areas. More than 156,000 families have lost their homes to bank repossessions this year.
Source: money.aol.com/news/articles/real-estate/_a/ed-mcmahon-faces-home-foreclosure/20080604082409990001

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