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Loading ...Newsday has published some disturbing numbers: just for the period of one year, foreclosures nationwide have jumped with the whopping 115%. Exactly 243,947 were the filings in August, hitting the highest point in a single month since foreclosure statistics were tracked by RealtyTrac starting back in 2005.
”The jump in foreclosure filings this month might be the beginning of the next wave of increased foreclosure activity, as a large number of subprime adjustable rate loans are beginning to reset now,” said James J. Saccacio, RealtyTrac’s chief executive.
Foreclosures in US rise 115% since last year on Newsday
Tags: foreclosure | filings | realtytrac | mortgage
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September 24th, 2007 at 10:13 am
I work for CurrentForeclosures.com, a foreclosures site and have seen a huge increase in the number of foreclosures in the past 9 months. I believe it is a combination of not only sub-prime and ARM mortgages, but also the high number of people who have gotten loans with interest rates at an all time low… in addition to the rapid depreciation in some areas and the difficulty some are experiencing in selling their homes.
September 26th, 2007 at 1:06 pm
It is pretty bad, I do have friends who are in the business and they are really facing a lot of difficulty selling property right now…