The number of US homes hit with foreclosure filings will touch 3.9-million mark in the second record year.
The Irvine, California-based firm said that current year’s foreclosure filings would exceed last year’s total of 3.2 million foreclosures.
As per figures compiled by the RealtyTrac, number of foreclosure filings surpassed 300,000 for the ninth consecutive month in November.
But, Michigan witnessed a fall of 3 per cent in foreclosure filings in November as compared with previous month. However, this figure was 9.5 per cent up from a year ago period.
The number of foreclosures in the US is rising as people who lost their jobs during economic slump are showing inability to protect their property.
Soaring unemployment, tight credit and price erosion have been hitting the housing market hard.












