Tuesday, April 15, 2008

March Foreclosures Up 57%

Foreclosures during March were up 57% from the same month in 2007, according to RealtyTrac. One in every 538 U.S. households got a foreclosure filing during the month, totalling nearly 235,000 properties.
“On a year-over-year basis, default notices were up nearly 57% and bank repossessions were up nearly 129%, but auction notices were up only 32%, indicating that more defaulting homeowners are simply walking away and deeding their properties back to the foreclosing lender," said James J. Saccacio, chief executive officer of RealtyTrac.

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