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Friday, July 25, 2008

The United States of Foreclosure

The numbers are depressingly gaudy, 220,000 foreclosures in the second quarter.

There was the story about the woman who committed suicide in order to get insurance money for her family to stave off foreclosure on their house. What do we make of this?

CNN: Foreclosure filings up 120%
...220,000 homes were lost to bank repossessions in the second quarter...

...one of every 171 U.S. households received a filing, which include notices of default, auction sale notices and bank repossessions.

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