- Dubai Struggles to Ease Debt Fears; Investors Rattled
- US Companies Already Moving on Curbing Emissions
- Fannie Mae to Tighten Lending Standards: Report
- Investing in Good Karma – and Making a Profit
- Retailers Should Believe in Christmas Miracles
- Wal-Mart Price Pressure Hurts China Workers: Report
- Bankruptcies Jump, Hitting Highest Level in Four Years
- Steepest Black Friday Discounts, Revealed
- Where Do Pardoned Turkeys Go?
- 4 Thanksgiving Week Buys For Your Portfolio: Market Pros
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
- Revenge of the Gangsta Nerds
- Will TCU See The "Flutie Effect?"
- Retail Earnings and Sales to Improve in Q4: Analyst
- Consumers Catching the Holiday Spirit
- It's Beginning To Look A Lot More Riskless
- Crescenzi: Claims Level Suggests End to Job Losses
- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
MOST SHARED
- Kuoni CEO Sees Recovery in Travel Sector
- Gold Retreats from Record High as Dollar Rebounds
- Dubai Struggles to Ease Debt Fears; Investors Rattled
- Chinese Overcapacity is Worsening, EU Chamber Warns
- Wal-Mart Price Pressure Hurts China Workers: Report
- Fannie Mae to Tighten Lending Standards: Report
- Great Britain, No Longer That Great: Investor
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- Euro Shares Record Biggest Drop in 7 Months
Text Size 
CNBC News Associate
Home foreclosures in August jumped 18 percent from a year ago, but decreased 0.47 from the previous month, according to a new report by RealtyTrac, an online marketplace for foreclosure properties.
 |
Foreclosures remained near record levels in August. |
“The August report demonstrates that there is still an ample supply of properties filling the foreclosure pipeline even while the outflow of bank-owned REO [real estate owned] properties onto the resale market is being more carefully regulated,” said James J. Saccacio, chief executive officer of RealtyTrac, in a statement.
RealtyTrac's data comes a day after the Treasury Department warned that millions more foreclosures were coming as a monthly report showed that just 12 percent of eligible homeowners had had their mortgages reworked, part of the current administration’s housing rescue plan.
Michael Barr, the Treasury's assistant secretary for financial institutions, told a House Financial Services subcommittee Wednesday that even if the Home Affordable Modification Program is a success, "we should still expect millions of foreclosures."
The states with the highest foreclosure rates remained little changed from the month before. Nevada again had the highest rate in the nation, with one in every 62 households receiving a foreclosure filling, which is defined as a default notice, bank repossession or auction sale notice.
Florida had the second highest rate with one in 140 households receiving a filling, and California had the third highest with one in 144 households receiving a filling.
- For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
- Ever wished your cab driver would stop nattering and just get to where you're going? Well that moment is near(er).
- Eric Schmidt pledges to create a virtual copy of the Iraq National Museum at Google’s expense.
- Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
- More shoppers than ever plan to comparison-shop this season. Who will benefit?
- It may be the most unusual guide to business you'll read.
Data is a real-time snapshot *Data is delayed at least 15 minutes