US home foreclosures jump 14% in 2nd quarter: survey

0 Comments | AFP, July, 2008

WASHINGTON (AFP) — US home foreclosures leapt nearly 14 percent in the second quarter from the previous quarter, research group RealtyTrac said Friday in a sign of deepening housing woes.

On an annual basis, home foreclosure filings soared 121 percent from the same period in 2007, RealtyTrac said in releasing a survey of the country's 100 largest metropolitan areas.

Foreclosures have spiked in the worst housing slump in decades and a related credit crisis that have brought the economy to a crawl.

With home prices falling and unemployment and inflation rising, homeowners are increasingly hard-pressed to make their home loan payments.

RealtyTrac said that foreclosure filings were reported on 739,714 US properties during the second quarter.

The...