Foreclosures up 75% in 2007

[NightWatcher]

http://money.cnn.com/2008/01/29/real_estate/foreclosure_filings_2007/index.htm?postversion=2008012905

Forgive me if this is a copy from earlier, but......

Defaults are way up for the year, with once red-hot Sun-Belt markets reporting the worst losses.

NEW YORK (CNNMoney.com) -- The number of foreclosures soared in 2007, with 405,000 households losing their home, according to a report released Tuesday.

Total foreclosure filings soared 97% in December alone compared with December of 2006, according to RealtyTrac, an online seller of foreclosure properties. For the year, total filings - which include default notices, auction sale notices and bank repossessions - grew 75%.

More than 1 percent of all U.S. households were in some stage of foreclosure during 2007, up from 0.58 percent the year before.

[fryguy]

1. gotta wonder.....

.....how the $500 billion, or so, spent in Iraq could have been used to help the US economy instead. And I wont even mention the billions pockets by the oil companies as a result of the ever increasing gas prices.....