Foreclosure Rate Up 25 Percent From 2007
October home foreclosures were up 25 percent compared to October 2007, according to RealtyTrac, a business that tracks foreclosures for people who are looking to buy distressed properties.
Nearly 280,000 homes received at least one foreclosure-related notice last month, an increase of 5 percent over September, RealtyTrac said.
That translates to one in every 452 homes getting a foreclosure filing, such as a default notice, auction sale notice or bank repossession.
More than 84,000 properties were repossessed in October, RealtyTrac said.
-- Frank Ahrens
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