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US foreclosures nearly double within a year

Staff Reporter 1 minute read

US home foreclosures have nearly doubled in a year – highlighting how many homeowners were falling behind on mortgage payments and losing their homes as a result of the US sub-prime fallout.

A total of 224,451 foreclosure filings were reported across the country in October, up 94 per cent from the same time a year ago, says online real estate company RealtyTrac.

The filings include default notices, auction sale notices and bank repossessions.

US foreclosures nearly double within a year
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