Nation’s foreclosure plague widens
Foreclosures, Meltdown, Mortgage Defaults | (0)
From CNN:
The foreclosure juggernaut lurched forward in July as banks took back 77,295 homes - up 8% in a month and 183% in a year, a report issued Thursday shows.
The company says it has more than 750,000 active listings of repossessed homes for sale on its database. That represents about 17% of all the existing homes for sale in the United States as reported by the National Association of Realtors.
Total foreclosure filings - delinquency notices, auction sale notices and bank repossessions - were up 8% from June and 55% year-over-year, according to RealtyTrac, an online marketer of foreclosed homes.
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