US Bank House Repossessions Treble In July
US banks repossessed almost three times as many US homes in July than a year earlier and the number of homes receiving a foreclosure notice jumped 55 percent as more homeowners defaulted on their mortgages in the face of falling prices, RealtyTrac, an Irvine, California-based seller of foreclosure data, said today in a statement.
Bank seizures rose 184 percent to 77,295, the steepest increase since reporting began in January 2005, More than 272,000 properties, or one in 464 U.S. households, got a default notice, was warned of a pending auction or were foreclosed on.
Bank seizures rose 184 percent to 77,295, the steepest increase since reporting began in January 2005, More than 272,000 properties, or one in 464 U.S. households, got a default notice, was warned of a pending auction or were foreclosed on.
