More Homes Lost to Foreclosure in August Than in Any Other Month Since Crisis Started

[Geee]

CNSnews:


More Homes Lost to Foreclosure in August Than in Any Other Month Since Crisis Started
Thursday, September 16, 2010
By Alex Veiga, Associated Press

Banks repossessed 95,364 properties last month, an increase of 25 percent from August 2009, RealtyTrac said. (AP Photo)
Los Angeles (AP) - Lenders took back more homes in August than in any month since the start of the U.S. mortgage crisis.
The increase in home repossessions came even as the number of properties entering the foreclosure process slowed for the seventh month in a row, foreclosure listing firm RealtyTrac Inc. said Thursday.

In all, banks repossessed 95,364 properties last month, up 3 percent from July and an increase of 25 percent from August 2009, RealtyTrac said.

August makes the ninth month in a row that the pace of homes lost to foreclosure has increased on an annual basis. The previous high was in May.

[AceRimmer]

Gosh! Aren't Bawney Fwank and Chris Dodd such brilliant economists? It makes me wonder why I'm a Republican!