Foreclosure Filings Jump in July

Foreclosure filings jumped again in July, including a 25 percent increase over last year in the District, despite a massive government program aimed at keeping millions of borrowers in their homes.

RealtyTrac counted 360,149 foreclosure filings nationally, which can range from default notices to bank repossessions. That was up 7 percent from June and 32 percent from July 2008. RealtyTrac, a private firm, says its data include more than 90 percent of U.S. households.

Half the foreclosure activity was in four states -- California, Nevada, Arizona and Florida -- which have been hardest hit by the housing downturn. But foreclosure activity in the Washington region also grew significantly. Compared with last year, for example, foreclosure filings in July jumped 25 percent in the District.

Read Full Article from Washington Post

- Posted: 2009-08-13 10:35:47

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