Foreclosures Surge 9 Percent in July as Banks Crack Down

The number of U.S. homes lost to foreclosure rose sharply in July, as lenders took back more properties from homeowners who had been in default for months on end.

Lenders repossessed 92,858 properties last month, up 9 percent from June and an increase of 6 percent from July 2009, the foreclosure-listing firm RealtyTrac said Thursday.