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
From CNN Money: