Thursday, July 16, 2009

Highest Quarter Ever for US Foreclosures

  • tags: foreclosure, filings

    • 1,905,723 foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 1,528,364 U.S. properties in the first six months of 2009, a 9 percent increase in total properties from the previous six months
    • 15 percent increase in total properties from the first six months of 2008
    • 1.19 percent of all U.S. housing units (one in 84) received at least one foreclosure filing in the first half of the year.
    • the second quarter total to the highest quarterly total
    • Unemployment-related foreclosures account for much of this increased activity, and the high number of borrowers who find themselves owing more on their mortgages than their homes’ are now worth represent a potentially significant future risk.

Posted from Diigo. The rest of my favorite links are here.