Thursday, January 15, 2009

US Mortgage Foreclosures Up 81% in 2008

U.S. foreclosure activity jumped 81 percent in 2008, with one in every 54 households getting at least one filing notice, suggesting various state laws and private programs to slow the process have been ineffective, RealtyTrac reported on Thursday.

Nearly 3.2 million foreclosure filings on 2.3 million properties were made last year, the Irvine, California-based research firm said.

Filings include notice of default, auction sale or bank repossession.

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