Foreclosures Continue!

Did you all here that foreclosures continue to go up?  I was just reading on Yahoo that there were 220,000 homes lost to bank repossessions in the second quarter.  This information is based on a housing market report Friday issued by RealtyTrac. That’s nearly 3 times the number from the same period in 2007.  Now here’s some numbers to think about.  There were a total of 739,714 foreclosure filings recorded during the same month period, which is up 14% from the first quarter.  And up a whopping 121% from the same period in 2007.   This breaks down to about one of every 171 U.S. households received a filing.  Filings include notices of default, auction sale notices and bank repossessions.  And in some areas the files are much higher.  Hopefully there will be relief here soon.  What we all need to do is take a breath and relax for awhile.