As government and industry scrambled to stem the housing crisis, another 84,868 homes were lost to foreclosure in October, according to a report released Thursday.Imagine what the numbers would be if we didn't have all these anti-foreclosure programs!
Last month 279,561 struggling borrowers received foreclosure filings, including default notices, notices of auction sales and bank repossessions, according to RealtyTrac, an online marketplace for foreclosures. That's a 5% increase from September, and up 25% from October 2007.
"October marks the 34th consecutive month where U.S. foreclosure activity has increased compared to the prior year," said James J. Saccacio, chief executive officer of RealtyTrac in a statement.
A total of 936,439 homes have been lost to foreclosure since the housing crisis hit in August, 2007.
Thursday, November 13, 2008
Almost 85,000 foreclosures in October
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"Imagine what the numbers would be if we didn't have all these anti-foreclosure programs!"
ReplyDeleteI imagine the numbers would be about the same. : (
How many of the anti-foreclosure programs have progressed past the planning stage?
ReplyDeleteImagine what this is doing to revenues generated by property taxes.
ReplyDeleteImagine what that means to local government budgets.
Sanitation, road maintenance, schools, etc. are all taking big hits.