Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Foreclosures rise in July

By Les Christie, staff writer

NEW YORK (CNNMoney.com) -- The latest foreclosure numbers carried a mixed message: They're up 3.6% from the month before but down 9.7% from 12 months earlier.

In July there were more than 325,000 foreclosure filings -- including notices of default, auctions notices and bank repossessions. That is the 17th month in a row total filings exceeded 300,000, said RealtyTrac's CEO, James Saccacio.

"Declines in new default notices, which were down on a year-over-year basis for the sixth straight month in July," he said, "have been offset by near-record levels of bank repossessions, which increased on a year-over-year basis for the eighth straight month."

A near record number of people lost their homes to mortgage payment problems in July. Lender repossessions amounted to 92,858 homes, the second highest monthly total ever behind the 93,777 recorded this May.

Repossession is the final stage in the foreclosure process. People can stay in thier homes until the point that the bank takes posession of the home or sells it at auction. To top of page

Overnight Avg Rate Latest Change Last Week
30 yr fixed3.90%3.84%
15 yr fixed2.89%2.87%
5/1 ARM3.12%3.02%
30 yr refi3.99%3.89%
15 yr refi2.98%2.97%
Rate data provided
by Bankrate.com
View rates in your area
Find personalized rates:
Index Last Change % Change
Dow 17,110.78 -21.08 -0.12%
Nasdaq 4,824.98 -13.66 -0.28%
S&P 500 2,011.63 -5.83 -0.29%
Treasuries 2.06 -0.03 -1.44%
Data as of 1:02pm ET
Company Price Change % Change
Bank of America Corp... 15.47 -0.05 -0.29%
EMC Corp 27.82 -0.53 -1.87%
General Electric Co 28.12 0.02 0.09%
Freeport-McMoRan Inc... 12.89 0.00 0.00%
Apple Inc 111.92 0.32 0.28%
Data as of 12:47pm ET


A merger between the two biggest brewers would put nearly half the world's top 40 beers in the hands of one company. More

Over three million Europeans have signed a petition against a planned free trade agreement with the U.S. What's the problem? More

Over 57% of the world does not have access to the internet because of language barriers and supply constraints, according to the UN Broadband Commission More