Thursday, October 15, 2009

Foreclosures rise 5 percent from summer to fall

  • Unemployment is the main reason US foreclosures continue to rise. The recession might technically be over, but it really won't be over until people can be confident they will have enough money to survive.

    tags: foreclosures

    • The number of households caught up in the foreclosure crisis rose more than 5 percent from summer to fall
    • The foreclosure crisis affected nearly 938,000 properties in the July-September quarter
    • Unemployment is the main reason homeowners are falling into trouble. While the economy is likely out of recession, the unemployment rate — now at a 26-year high of 9.8 percent — isn't expected to peak until the middle of next year.

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