Foreclosures Heat Up in August

Ah, August. A big month for vacations, backyard barbeques, pool parties— and giving your house back to the bank. According to the guys at RealtyTrac, August 2007 had the highest number of foreclosure filings in a single month since the company began tracking foreclosures in January 2005—a total of 243,947, to be exact. This is up 36% from July and 115% from August 2006. In the U.S., there was one foreclosure filing (default notice, auction sale notice or bank repossession) for every 510 households last month.

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