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Foreclosures Skyrocketing
Despite federal and state government efforts to slow down the foreclosures, July features a new record in home loans downfall, which puts a big strain on housing and economy.
Foreclosure rates in July skyrocketed at 32 percent as compared to the previous year, 7 more percent as compared to the previous month. The numbers are one in every 355 households are so deep down in

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they have no other options, thus receiving foreclosure filing.

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, default, bank repossession and foreclosures have skyrocketed along with the unemployment.
The last five months have shown three records in a row of foreclosure activity. A significant growth in default and bank repossessions sprung up despite the numerous governmental programs to patch up the home loan sector.

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ors face the inevitable foreclosure when faced with the unemployment on the global scale.
July features more than 360.000 households drawing a foreclosure filing.

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leading to default, auction, repossession and foreclosure reached the 2.3 million this year. It gets more and more difficult for

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ors to stay on time with their monthly payments in the conditions of unemployment or decrease in wages. The unemployment now is 9.4 percent in the US, more to come.
The most suffering states are the ones that experienced the housing boom within the last five years - California, Florida, Arizona, Nevada accounted for almost 57 percent of total U.S. foreclosure activity in July.
Moratoriums proved to be useless against the foreclosures, they’re rather a delay, painful and slow way to foreclosure, rather a cure that treats

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. Texas, Georgia, Ohio and New Jersey also lead the chart of foreclosure and

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ratings. Colorado, Illinois, Utah, Idaho, Oregon also feature highest foreclosure rates.
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