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Posted: 9:59 AM Oct 23, 2008
US Foreclosure Filings Up 71 Percent in 3q
The number of foreclosure filings grew by 71 percent in the third quarter of this year compared with the third quarter of 2007.
Reporter: Associated Press Email Address: news@nbc11news.com |
**FILE** In this May 9, 2008 file photo, a foreclosure sign stands outside an existing home on the market in Denver. A record 9 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis continues to mount, the Mortgage Bankers Association said Friday, Sept. 5, 2008. (AP Photo/David Zalubowski, file)
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Washington (AP) The number of foreclosure filings grew by 71 percent in the third quarter of this year compared with the third quarter of 2007.
The foreclosure listing service Realtytrac Incorporated says in all, nearly 766,000 homes around the country received at least one foreclosure-related notice from July through September.
By the end of the year, Realtytrac expects more than a million bank-owned properties to have piled up on the market. That comes out to about a third of all properties for sale in the U.S.
Six states, California, Florida, Arizona, Ohio, Michigan and Nevada, accounted for more than 60 percent of all foreclosure activity in the quarter.
California alone makes up more than a quarter of all U.S. foreclosure filings.
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