IRVINE, Calif. — Credit union mortgage lenders who were hoping the rising national foreclosure rate would soon be abating will have to wait longer.
RealtyTrac(TM), the leading online marketplace for foreclosure properties last month released its August 2006 U.S. Foreclosure Market Report, and the data shows a 22% increase from the previous month in the number of properties nationwide that entered some stage of foreclosure during the month, and an increase of nearly 50% from August 2005.
The latest statistics also show a national foreclosure rate of one new foreclosure filing for every 1,021 U.S. households, the second highest monthly foreclosure rate reported year-to-date.
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