Sunday, March 31, 2013

Thousands more Americans are losing their homes this year with 1.5 million properties taken by banks - up nine per cent on 2012

The number of foreclosed or bank-seized homes has risen by nine per cent already this year - with 1.5 million properties currently being lost by homeowners who can no longer afford them.

A realty survey found the worrying increase over the last three months compared to the same time in 2012.

The research by California-based RealtyTrac says a further 10.9 million American homeowners are at risk because they owe more than their property is worth.