Foreclosure rate almost doubled in 2007: report
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More than 1 percent of all households faced foreclosure during 2007, almost twice the previous year's rate, a real estate marketing company said on Tuesday.
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THE REGION Foreclosure filings in Massachusetts rose 72 percent last month as a growing number of homeowners were put in financial distress by the housing market's sharp downturn. ForeclosuresMass.com, which tracks Land Court foreclosure filings against homeowners by mortgage lenders, said there were 1,812 filings last month against borrowers who were past due, up from 1,055 filings in August 2005. ...
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More than 30 percent of U.S. homeowners who bought in the last two years owe more on their mortgage than their house is currently worth, a housing market research company said on Tuesday.
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U.S. home sales and prices will fall further in 2007 than earlier expected, the leading realty trade association predicted on Wednesday.
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Business & money: Average interest rates on personal loans have jumped to almost double the advertised rate
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The number of mortgage fraud cases investigated by the FBI almost doubled in the past three years, reflecting a problem that is "pervasive and growing," the bureau said yesterday in its annual report on financial crimes.
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The subprime mess is turning out to be a boon for class-action lawyers. Through Dec. 15, filings were up 58 percent from 2006, according to a new study.
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The rate of home loans in foreclosure rose to a record level in the second quarter of 2007 as more homeowners in California, Florida and other states could not refinance their adjustable-rate mortgages.
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The percentage of U.S. mortgages entering foreclosure in the first three months of the year was the highest in more than 50 years. according to the Mortgage Bankers Association.
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Mortgage rates rose slightly this week, but 30-year fixed-rate mortgage averages this year were the second lowest in 32 years, according to Freddie Mac.
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Home foreclosure filings surged in the  largest metropolitan areas in the United States during 2007,  with cities in California, Ohio, Florida and Michigan reporting  among the highest rates in the country, real estate data firm  RealtyTrac said on Wednesday.
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Countrywide Financial Corp. , the largest U.S. mortgage lender, on Tuesday said it made 15 percent more home loans in May as the pace of refinancings increased, though the foreclosure rate doubled.
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Sales of existing US homes unexpectedly rose by 2.7 percent in November as low mortgage rates fueled a record pace of home-buying, a trade association report showed on Wednesday.
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WASHINGTON -- The prolonged slump in housing pushed construction of new homes in 2007 down by the largest amount in 27 years with the expectation that the downturn has further to go.
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Late summer brought no relief from soaring foreclosures. The number of homes in some stage of default jumped 36 percent month-over-month in August, according to a regular monthly survey.
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Countrywide Financial Corp. ,  the largest U.S. mortgage lender, on Tuesday said it made 15  percent more home loans in May as the pace of refinancings  increased, though the foreclosure rate doubled.
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At current rates, analysts expect foreclosure filings to hit a rate approaching heights not seen since the Great Depression.