September Bank Foreclosures Reach New Record
Home Foreclosures by Banks Top 100,000 for First Time; Overall Filings Rise 3 Percent
The program meant to save homes only assisted 33,000 homeowners. In 2009 President Obama vowed to help up to 4 million homeowners through the program, but only a little more than 10 percent or 449,000 homeowners have received assistance.
In the third quarter a few states like Vermont and North Dakota escaped the bleak housing news. The two ranked 48 and 49, respe
ctively, for foreclosure filings. Homeowners in West Virginia were the safest of all 50 states with only one in every 2,383 receiving foreclosure filings.
Yesterday, the attorneys general of all 50 states announced an investigation into whether sloppiness or deceit led to the latest episode of the national foreclosure drama, further threatening the recovery of the U.S. housing market.