In the News: Foreclosures/Economy

source ABCNEWS

US Foreclosure Filings Surge 48 Percent in May
Nationwide, 261,255 Homes Received at Least One Foreclosure Filing in May
By ALAN ZIBEL AP
Business Writer
WASHINGTON June 13, 2008 (AP)

The number of U.S. homeowners swept up in the housing crisis rose further last month, with foreclosure filings up nearly 50 percent compared with a year earlier, a foreclosure listing company said Friday.

Nationwide, 261,255 homes received at least one foreclosure-related filing in May, up 48 percent from 176,137 in the same month last year and up 7 percent from April, RealtyTrac Inc. said.

One in every 483 U.S. households received a foreclosure filing in May, the highest number since RealtyTrac started the report in 2005 and the second-straight monthly record.

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