Despite a 27 percent increase in August’s foreclosures over the same period in 2007, the rate at which they are being filed has slowed significantly versus year-over-year data for June and July. Both months showed increases of at least fifty percent, making August’s numbers seem small by comparison. However, in August alone, more than 90,000 properties were repossessed as a result of defaulted loans. By the end of the year, total foreclosures are expected to come close to the three million mark.
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