US foreclosure filings surge 48 percent in May

By: Associated Press Email
By: Associated Press Email

Washington (AP) More U.S. Homeowners are being plowed under by the housing crisis.

a foreclosure listing compay says filings last month were up by nearly 50-percent compared with a year earlier.

Realitytrac says more than 261,000 homes received at least one foreclosure-related filing in may. That's from 176,000 in May of last year. It's also a seven-percent jump over April.

One in every 483 U.S. Households received a foreclosure filing in may, the highest number since Realtytrac started the report in 2005.

Foreclosure filings increased from a year earlier in all but 10 states. Those with the highest rates are Nevada, California, Arizona, Florida and Michigan.

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