U.S. home foreclosures surge 75% in 2007

January 29th, 2008 | Category: Bad News, Economic Data

U.S. foreclosure filings increased 75% in 2007 to 2.2 million, with more than 1% of all U.S. households facing foreclosure, a main real estate market research company announced Tuesday.

Foreclosures in 2007 totaled 2,203,295 up from 1,285,873 in 2006, RealtyTrac announced Tuesday in a statement.

The report plus shows that more than 1% of all U.S. households were in some stage of foreclosure during the year,

up from 0.58% in 2006.

Foreclosure filings increased at the end of the year, with December 2007 marking the fifth straight month of more than 200,000 foreclosures reported, RealtyTrac said.

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