Foreclosures Surge 53 Percent

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.