June Foreclosures Jump 53%

One in 501 US households hit with filings last month as crisis rolls on
By Newser Editors and Wire Services
Posted Jul 10, 2008 7:19 AM CDT
   (Andy Fowle)
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(Newser) – 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.