Excerpted from CNNMoney.com:
As foreclosures continue to soar, 220,000 homes were lost to bank repossessions in the second quarter, according to a housing market report Friday issued by RealtyTrac.
That’s nearly triple the number from the same period in 2007.
A total of 739,714 foreclosure filings were recorded during that three-month period, up 14% from the first quarter, and 121% from the same period in 2007. That means that one of every 171 U.S. households received a filing, which include notices of default, auction sale notices and bank repossessions.
If youâ€™re in a position to buy right now, foreclosed properties can be a real deal. Fannie Mae and Freddie Mac both have loads of properties to sellâ€”many of which are under the appraised value.
- Fannie Mae-Owned Property Search
- Freddie Mac-Owned Property Search (Coupon for $400 off Closing Costs for Freddie Mac Properties)