Economic Report: Nearly 405,000 U.S. Homeowners Lost Their Homes In 2007 - 01/30/08
29th January 2008
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By Jesse Russell
Foreclosures broke records in 2007 – jumping by 75 percent. That equals nearly 405,000 homeowners losing their homes. In December of 2007 the foreclosure filings increased a whopping 97 percent over December 2006. California was hit the worst with 250,000 foreclosure filings. Michigan, already suffering from the job loses in the manufacturing sector, received a second punch in the gut with 47,000 homes being lost.