Home Repossessions Hit Nine-Month High

Ad Feedback

The number of homes repossessed in the United States hit a nine-month high in November.

Foreclosure listing firm Realty Trac said banks completed foreclosure on more than 59,000 homes last month. That's an increase of 11 percent from October and up 5 percent from November 2011.

But the number of homes entering the foreclosure process sank to it's lowest number since 2006 to about 77,500.

Bank repossessions, however, remain high. They are on pace to exceed 650,000 this year, down from 800,000 last year.

The data found that Florida had the highest foreclosure rate, twice the national rate.

Log in or create an account to post a comment.  


Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

CBN News


CBN News is a national/international, nonprofit news organization that provides programming by cable, satellite, and the Internet, 24-hours a day. Follow us on Facebook, Twitter, and Google+.