For some, home is indeed where the heart is. However, across the U.S., homeownership has led to heartache for many as foreclosure rates rise.
In November, online foreclosure marketplace RealtyTrac, reported that 635,159 foreclosures had been filed in the third quarter of 2007. That’s an increase of 30 percent over the previous quarter and nearly 100 percent from the third quarter of 2006.
However, the foreclosure rate dipped 10 percent in November, RealtyTrac reported, the first double-digit drop since April 2006.
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