Bank Seizures Have Doubled In The U.S.

ForeclosuresRI President and co-founder, Jeremy Shapiro U.S foreclosure filings climbed 65 percent and the bank seizures more than doubled in April from a year earlier as rates on adjustable mortgages increased and vacant homes add to the heap of unsold homes. More than 243,300 properties, or one in every 519 households were in some stage of foreclosure. In Plymouth County, Massachusetts the volume of deeds recorded during April represented a six-month high for the number of monthly sales. Plymouth County recorded 609 deeds in April, up from 570 in March. The volume of foreclosure sales is not likely to subside any time soon. California is in the top 3 states with the most foreclosures in the country. Especially bad are San Bernardino and Riverside counties which together rank at number two nation wide for foreclosures. One out of 99 houses in the area received a foreclosure filing in April, the statewide average is one in 204 homes. The number of California foreclosure filings has more than doubled since April 2007 to almost 65,000.

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