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Foreclosures Increase Over 80% in 2008

Foreclosure filings on more than 2.3 million properties reported in 2008.

 

ForeclosureListings.com, one of the largest foreclosure listings providers, reports a total of 3,108,364 foreclosure filings in 2008 — auction sale notices, bank repossessions, and default notices — 1,275,791 U.S. Properties over the course of the year; an 82% increase in all properties from 2007, and a 240% increase in the total number of properties from 2006.

 

The alarming report also shows that over 1.8% of all U.S. Homes (that is one in 54), received at least one foreclosure filing during the year (an increase from 1% in 2007), which may not sound like a lot to some people, but consider that there was a lot of construction occurring at the same time.

 

For the complete story, visit http://www.marketwatch.com/News/Story/Story.aspx?guid=%7b4E23F633-D040-4695-96BA-9079C333191D%7d&siteid=nbkh

 

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