ForeclosureS.com: Foreclosures Up 93%

Over a million homes entered the foreclosure process nationwide in the first 11 months of the year, a 93% increase from the level recorded in the comparable period of last year, according to ForeclosureS.com, a Fair Oaks, Calif.-based investment advisory firm. In addition, nearly 527,000 homes were repossessed by lenders during the period, up 41% from the comparable level a year earlier, the company reported. However, not all the foreclosure news is gloomy, the company said. "Our newest ForeclosureS.com report shows pockets of actual drops in the number of foreclosure and pre-foreclosure filings from a year ago," said Alexis McGee, president of ForeclosureS.com. "That's positive, and that's the real news despite overall numbers that generally are up for the year and from 2006." The company can be found online at http://www.foreclosures.com.