Foreclosures Continued to Rise in 3rd Quarter as Banks Worked on Backlog

The number of homeowners pulled into the foreclosure crisis increased by 5 percent during the third quarter as a government program to help borrowers stay in their homes struggled to gain traction, according to RealtyTrac data released Thursday.

RealtyTrac found that more than 925,000 borrowers received a foreclosure filing, which can range from a default notice to a bank repossession, between July and September. That is up 23 percent from the comparable period last year.

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- Posted: 2009-10-15 20:16:33

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