Foreclosure Heat Map from RealtyTrac - Click on map to enlarge.Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 360,149 U.S. properties during the month, an increase of nearly 7 percent from the previous month and an increase of 32 percent from July 2008. One in every 355 U.S. housing units received a foreclosure filing in July.
July marks the third time in the last five months where there has been a new record set for foreclosure activity. Despite continued efforts by the federal government and state governments to patch together a safety net for distressed homeowners, there is significant growth in both the initial notices of default and in bank repossessions.
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