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Foreclosure

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Foreclosures Up 12 Percent in February 

Mar 26, 2007By

Foreclosure filings rose 12 percent in February compared to year-ago levels, the latest sign of continued distress in major U.S. housing markets. In spite of the continued elevation in foreclosures, filings dropped 4 percent versus revised January totals, according to a report by foreclosed property marketplace RealtyTrac. A drop in foreclosure activity between January and February is considered normal, HW industry sources said. The report said that a total of 130,786 foreclosures were filed during February, which translated into a rate of 1 foreclosure filing for every 884 U.S. households during the month.

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