US Foreclosure Information

Foreclosures rise 58 percent in first half of '07
from MSNBC.com, reports that the number of U.S. homes facing foreclosure surged 58 percent in the first six months of 2007, with 573,397 properties in some phase of the foreclosure process in the first half. The numbers were released by RealtyTrac. "We could easily surpass 2 million foreclosure filings by the end of the year, which would represent a year-over-year increase of over 65 percent," said RealtyTrac CEO James J. Saccacio. California, Florida, Texas and Ohio led the nation in homes receiving foreclosure related notices, California alone has 104,572 properties receive notices of default, more than double a year ago.The national foreclosure rate through the end of June was one filing for every 134 U.S. households, the company said. Lagging home sales and flat or decreasing home prices have made it more difficult for homeowners who fall behind on payments to sell their homes and clear the debt, spurring the rise in foreclosure activity