Foreclosures Surge 53 Percent

usatoday.com — The number of homeowners stung by the rout in the U.S. housing market jumped last month as foreclosure filings grew more than 50 percent compared with June a year ago, according to recent data. Nationwide, 252,363 homes received at least one foreclosure-related notice in June, up 53 percent from the same month last year, but down 3 percent from May. One in every 501 U.S. households received a foreclosure filing last month. Foreclosure filings increased from a year earlier in all but 11 states. Nevada, California, Arizona, Florida and Michigan continued to have the highest foreclosure rates.

Read Full Article »