Thursday, November 01, 2007

HOMES FACING FORECLOSURE DOUBLES IN 3RD QUARTER

From USA Today:

A soaring number of U.S. homeowners struggled to make mortgage payments in the third quarter, with properties in some stage of foreclosure more than doubling from the same time last year, a mortgage data company said Thursday.

A total of 446,726 homes nationwide were targeted by some sort of foreclosure activity from July to September, up 100.1% from 223,233 properties in the year-ago period, according to RealtyTrac.

The current figure was 33.9% higher than the 333,731 properties in foreclosure in the second quarter.

There was one foreclosure filing for every 196 households in the nation during the most recent quarter, RealtyTrac said.

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