Foreclosures Jump 90% Over Last Year

NEW YORK (Reuters) -- Home foreclosures in May jumped 90 percent from a year earlier, reflecting a poor spring housing market and foreshadowing even higher levels later in 2007, real estate data firm RealtyTrac said Tuesday.
The May foreclosures -- a sum of default notices, auction sale notices and bank repossessions -- totaled 176,137, up 19 percent from April, the firm said in its May 2007 U.S. Foreclosure Market Report.
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