May’s national foreclosure rate was up 90% from last year, and 19% from April according to Reuters. Some of the statistics being quoted by the media are astonishing to us: In Nevada, a formerly hot real estate market, there was 1 foreclosure filing for every 166 households. Nevada’s foreclosure rate was up 40% from April.

During the month of May, there was one foreclosure filing for every 656 households in the US.—MEGHANN MARCO

May foreclosure filings soar 90%; more housing woes likely [Boston Globe]
May home foreclosures up 19 percent: RealtyTrac [Reuters]
(Photo: rappensuncle)

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.