And they are expected to be even higher this year. More economic failure, courtesy of the GOP. Regulation and oversight are not bad words, unless you are a Republican. Because the GOP failed to act, it’s going to cost everyone much more money in the long run.
About 1.3 million homes received foreclosure-related warnings last year, up from 717,522 in 2006, Irvine-based RealtyTrac said. Foreclosure filings rose 75 percent from the previous year to 2.2 million.
More than 1 percent of all U.S. households were in some phase of the foreclosure process last year, up from about half a percent in 2006, RealtyTrac said.
Nevada, Florida, Michigan and California posted the highest foreclosure rates, the company said.