Source: Yahoo News / Associated Press
The number of U.S. households on the verge of losing their homes rose 7 percent from June to July, as the escalating foreclosure crisis continued to outpace government efforts to limit the damage.
Foreclosure filings were up 32 percent from the same month last year, RealtyTrac Inc. said Thursday. More than 360,000 households, or one in every 355 homes, received a foreclosure-related notice, such as a notice of default or trustee’s sale. That’s the highest monthly level since the foreclosure-listing firm began publishing the data more than four years ago.
Banks repossessed more than 87,000 homes in July, up from about 79,000 homes a month earlier.
Read the full article by Alan Zibel “Forclosures rise 7 percent in July from June” at Yahoo News (August 13, 2009).