August saw 303,879 foreclosures filed, RealtyTrac reported. Foreclosures jumped from July and were 27 percent higher than year earlier. Real estate owned filings, where the foreclosure was completed and the property became owned by the lender, totaled 90,893 in August, jumping from the month before and more than doubling from August 2007.
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Welcome to Mortgage-Lending-News.Com. The United States Mortgage Industry is at a crossroads. Hundreds of billions in loans and real estate valuations have been lost due to the sub-prime mortgage crisis. Even worse, billions more are at risk during the first half of 2008, as even more adjustable rate mortgages reset their rates. Hardly a day goes by that we don't hear of a foreclosure crisis in the news. Quite simply, there is too much news for us to keep up with, so we built this Mortgage site, initially as a means for us to internally follow what is going on in the mortgage industry. Now, we are sharing it with you.
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