25
Jul

Foreclosures Continue

   Posted by: SuperZ   in Economy

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.

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This entry was posted on Friday, July 25th, 2008 at 2:30 pm and is filed under Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One comment

Beth
 1 

It\’s sad isn\’t it. My husband and I own a house in Columbus OH, we moved so South Carolina in 2003 and put our house in the market , but weren\’t able to sell it. Our realtor suggested we get a lease to own , but then it didn\’t work out. There are about 7 houses in that subdivision that is either never been sold or in foreclosure. So how are we going to sell our house? Hmmm… Right now, we have a good renter , ( thank God ) although the rent is not enough for the mortgage payment, but at least we\’re getting something. It\’s hard to sell house this time. SIGH

July 26th, 2008 at 1:21 am

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