Foreclosure News
This from MSN:
Property foreclosures in December rose 35% over the year before, with one household in every 1,055 U.S. households in some stage of foreclosure.
According the RealtyTrac, an online marketplace for foreclosure properties, 109,652 properties entered the nation's foreclosure process during the month. Though that's a 9% decline from November, it's the fifth straight month the number has topped 100,000.
"While the number of new foreclosure filings dropped back from the high point of 2006 in November, the combination of slower home sales and rising interest rates on adjustable mortgages continues to drive foreclosures at significantly higher numbers than a year ago," said James J. Saccacio, RealtyTrac's chief executive officer.
Property foreclosures in December rose 35% over the year before, with one household in every 1,055 U.S. households in some stage of foreclosure.
According the RealtyTrac, an online marketplace for foreclosure properties, 109,652 properties entered the nation's foreclosure process during the month. Though that's a 9% decline from November, it's the fifth straight month the number has topped 100,000.
"While the number of new foreclosure filings dropped back from the high point of 2006 in November, the combination of slower home sales and rising interest rates on adjustable mortgages continues to drive foreclosures at significantly higher numbers than a year ago," said James J. Saccacio, RealtyTrac's chief executive officer.
posted by John and Flo Martin at 3:39 AM
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