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Foreclosure rates surge, biggest jump in 5 years

http://finance.yahoo.com

LOS ANGELES (AP) -- A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report.

RealtyTrac Inc. said Thursday that the number of U.S. homes taken over by banks jumped 35 percent in the first quarter from a year ago. In addition, households facing foreclosure grew 16 percent in the same period and 7 percent from the last three months of 2009.

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spideynw's picture
Created by spideynw 4 years 2 days ago
Category: Economics   Tags:

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