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Foreclosures Climb 38% to Record in U.S. as Banks Process Backlog of Homes

By Implode-Explode Heavy Industries

"Home seizures climbed 38 percent from a year earlier and 5 percent from the first quarter, the Irvine, California-based data company said today in a statement. More than 1.65 million properties received a foreclosure filing, including notices of default, auction and bank repossession, in the first half. That was up 8 percent from the first six months of 2009."

Full post as published by Mortgage Lender Implode-o-Meter on July 15, 2010 (boomark / email).