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September 7, 2008 6:43:15 PM CDT

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June Foreclosures Jump 53%

Posted Jul 10, 08 7:19 AM CDT in Business 

(AP) – The number of homeowners stung by the rout in the US housing market jumped last month as foreclosure filings grew by 53% over June a year ago, according to data released today. One in every 501 US households was hit with a foreclosure filing last month.

Nationwide, 252,363 homeowners received a foreclosure-related notice in June, up  from a year ago, but down 3% from May, RealtyTrac said. Nevada, California, Arizona, Florida, and Michigan continued to have the highest foreclosure rates. More than 71,000 properties were repossessed by lenders nationwide in June.

Source Associated Press

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  (Andy Fowle)
A foreclosure sign stands outside a home in Denver.   (AP Photo/David Zalubowski, File)
A home is advertised for sale at a foreclosure auction in Pasadena, Calif.   (AP Photo/Reed Saxon)
A bank owned home is seen for sale in Sacramento, Calif., Wednesday, July 2, 2008.   (AP Photo/Rich Pedroncelli)
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California  • Florida  • housing crisis  • foreclosure  • Michigan  • Nevada  • mortgage defaults


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