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Last 90 days, nearly a MILLION foreclosures

Foreclosures: ‘Worst three months of all time’

Despite signs of broader economic recovery, number of foreclosure filings hit a record high in the third quarter – a sign the plague is still spreading.

NEW YORK (CNNMoney.com) — Despite concerted government-led and lender-supported efforts to prevent foreclosures, the number of filings hit a record high in the third quarter, according to a report issued Thursday.

“They were the worst three months of all time,” said Rick Sharga, spokesman for RealtyTrac, an online marketer of foreclosed homes.

During that time, 937,840 homes received a foreclosure letter — whether a default notice, auction notice or bank repossession, the RealtyTrac report said. That means one in every 136 U.S. homes were in foreclosure, which is a 5% increase from the second quarter and a 23% jump over the third quarter of 2008.

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1 comment to Last 90 days, nearly a MILLION foreclosures

  • admin

    Try to imagine the number of new families at risk of being homeless — and that’s just for the last 90 days… The social cost of this staggering to contemplate. Meanwhile, we are funding two insane wars in the Middle East and Congress is completely reprobate.

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