Well, at least Charles Prince and Stanley O’Neal are still sitting on a few hundred million made from these failed deals. For them, life remains pretty good, so thanks for your business.
U.S. home foreclosure filings rose 14 percent in the second quarter, the eighth consecutive quarterly climb, and more than doubled from the same period a year-earlier, real estate data firm RealtyTrac said on Friday.
Home foreclosure filings during the second quarter were reported on 739,714 U.S. properties, up 121 percent from a year earlier, RealtyTrac, an online market of foreclosure properties, said in a report.
The figure is a total of default notices, auction sale notices and bank repossessions between April and June.
“Although much of the fallout from foreclosures is being driven by rampant activity in a few states, such as Nevada, California, Florida, Ohio, Arizona and Michigan, most areas of the country are seeing at least some increase in foreclosure activity,” James J. Saccacio, chief executive officer of RealtyTrac, said in a statement.