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Large increase in number of foreclosures across US

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Sunday, April 27, 2008

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Recently released figures have revealed that the number of foreclosures in California, United States has more than quadrupled. The figures for the first quarter of 2008 show a significant increase on previous figures.

There were 47,171 foreclosures on California properties in the first quarter of 2008. The figure for the same period last year was just over 10,000.

The Attorney General of Arizona released a report that showed an increase. It said that "the collective efforts of servicers and government officials to date have not translated into meaningful improvement in foreclosure prevention outcomes." The Attorney General also commented on the report:

We continue to see a rising number of foreclosures in Arizona, which is a significant drag on Arizona's economy. This report confirms that efforts made by servicers to prevent unnecessary foreclosures are not enough. We need to explore additional approaches to prevent tens of thousands of unnecessary foreclosures in Arizona.


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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.
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