The Foreclosure Pain Continues

Foreclosures across the United States rose 93 percent in July compared to July 2006 and increased 9 percent compared to June 2007, the Houston Chronicle reported August 21, 2007.

"There were 179,599 foreclosure filings reported during July, up from 92,845 during the same period a year ago, Irvine-based RealtyTrac, Inc. said today. There were 164,644 foreclosure filings reported in June."

The above numbers translate into one foreclosure for every 693 American households.

Foreclosures increased in 43 states on a year-over-year basis in July, but five states — California, Florida, Michigan, Ohio and Georgia — accounted for more than half of the nation's total foreclosure filings.

According to RealtyTrac, Inc., Massachusetts ranks 9th in the country in foreclosures. New Hampshire ranks 34th and actually saw a decline in foreclosures in July 2007 compared to June 2007. One in every 580 Massachusetts household faced foreclosure.  One in every 2,946 households in New Hampshire faced foreclosure.