Friday, July 25, 2008



July 25 (Bloomberg) -- U.S. foreclosure filings more than doubled in the second quarter from a year earlier as falling home prices left borrowers owing more on mortgages than their properties were worth.

One in every 171 U.S. homeowners lost their house to foreclosure, received a default notice or was warned of a pending auction, an increase of 121 percent from a year earlier and a 14 percent rise from the first quarter, RealtyTrac Inc. said today in a statement. Almost 740,000 properties were in some stage of the foreclosure process, the most since the Irvine, California-based real estate data company began reporting in January 2005.