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
June Foreclosures Jump 53%
   (Andy Fowle)

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. (More housing crisis stories.)

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