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FORECLOSURE RATES
(2007-07-31)
(wgvu) - AP-MI--FORECLOSURE RATES,0126

U.S. FORECLOSURES RISE 58 PERCENT IN FIRST HALF OF 2007

LOS ANGELES (AP) - A DATA FIRM SAYS THE NUMBER OF U-S HOMES
FACING FORECLOSURE SURGED 58 PERCENT IN THE FIRST SIX MONTHS OF THE
YEAR, THE LATEST SIGN OF MOUNTING PROBLEMS IN THE MORTGAGE
INDUSTRY.
IN ALL, MORE THAN 573-THOUSAND PROPERTIES ACROSS THE NATION
REPORTED SOME SORT OF FORECLOSURE ACTIVITY IN THE FIRST HALF OF
THIS YEAR, ACCORDING TO IRVINE, CALIFORNIA-BASED REALTYTRAC.
THAT WAS 58 PERCENT HIGHER THAN THE 363-THOUSAND PROPERTIES IN
THE FIRST SIX MONTHS OF 2006 AND 32 PERCENT HIGHER THAN THE
433-THOUSAND IN THE LAST SIX MONTHS OF 2006.
MICHIGAN HAD THE NATION'S FIFTH-HIGHEST RATE OF FORECLOSURE
FILINGS WITH 40-THOUSAND.
CALIFORNIA, FLORIDA, TEXAS AND OHIO HAD THE HIGHEST NUMBER OF
HOMES RECEIVING FORECLOSURE-RELATED NOTICES.

(COPYRIGHT 2007 BY THE ASSOCIATED PRESS. ALL RIGHTS RESERVED.)


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