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Search Properties | 7 Day FREE Trial ISSUE 17 March 2008 TOP STORY U.S Foreclosure Activity Up 75 Percent in 2007

A total of 2,203,295 foreclosure filings - default notices, auction sale notices and bank repossessions - were reported on 1,285,873 properties nationwide during 2007, up 75 percent from 2006. "The year ended with a monthly increase of 7 percent in December, making it the fifth straight month with more than 200,000 foreclosure filings reported and giving the fourth quarter the highest quarterly total we've seen since we began issuing our report in January 2005," said James J. Saccacio, chief executive officer of RealtyTrac. "It also pushed the foreclosure filing total for 2007 well over 2 million. And while filings were up 75 percent, the number of properties in some stage of foreclosure was up 79 percent, indicating that some properties may have just entered the initial stage of foreclosure in 2007 and could be going through the rest of the foreclosure process in 2008 - unless lender and government intervention efforts begin to gain more traction." VIEW FULL STORY

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