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Old 08-22-2007, 06:45 AM
 
Location: Eastern Long Island
1,280 posts, read 4,933,384 times
Reputation: 777

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July Foreclosures Up 9 Percent From June
Tuesday August 21, 3:22 pm ET
By Alex Veiga, AP Business Writer

U.S. Home Foreclosures Jump Sharply in July, Up 9 Percent From June


LOS ANGELES (AP) -- The number of foreclosure filings reported in the U.S. last month jumped 93 percent from July of 2006 and rose 9 percent from June, the latest sign that homeowners are having trouble making payments and finding buyers during the national housing downturn.

"There were 179,599 foreclosure filings reported during July, up from 92,845 during the same period a year ago, Irvine-based RealtyTrac Inc. said Tuesday. There were 164,644 foreclosure filings reported in June.

July foreclosures up 9 percent from June - Yahoo! News (broken link)

NY isn't very high on the list however california is & that has always been another state that is considered to have higher incomes. I predicted this would happen, now if I could just guess those Mega Million Numbers! LOL

Last edited by bellafinzi; 08-22-2007 at 06:01 PM.. Reason: copyright
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Old 08-22-2007, 10:54 AM
 
9,680 posts, read 27,163,684 times
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To be expected.

People got homes way more than they could afford using risky loan types.

Home values fell and interest rates reset on ARM's.

What else could happen.
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