When a House Is Not a Home 0
When it’s gone:
Nearly 1.2% of all U.S. housing units — 1 in 84 — were subject to a foreclosure filing in the first half, RealtyTrac reported.
Despite an industrywide moratorium on foreclosures earlier this year plus legislative action and more efforts by lenders to modify the terms of mortgages, “foreclosure activity continues to increase to record levels,” RealtyTrac Chief Executive James J. Saccacio said in a statement.
People who’ve lost jobs “account for much” of the increase, and borrowers who owe more on their mortgages than their homes are worth represent a significant risk going forward, he said.
