Wednesday, June 13, 2007

Housing Foreclosures Jumped 90% in May From Year Ago

By Reuters

U.S. home foreclosures in May jumped 90% from a year earlier, reflecting a poor spring housing market and foreshadowing even higher levels later in 2007, real estate data firm RealtyTrac said on Tuesday.  The May foreclosures -- a sum of default notices, auction sale notices and bank repossessions -- totaled 176,137, up 19% from April, the firm said in its May 2007 U.S. Foreclosure Market Report.

To read the whole article go to CNBC.

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