Monthly Foreclosures Reported Over 100K

More than 100,000 homeowners lost their properties to foreclosure in August, 6% more than in July and more than 80% higher than in August 2007, according to ForeclosureS.com, a Fair Oaks, Calif.-based investment advisory firm. Foreclosures hit nearly 102,000 in August, and so far this year lenders have repossessed a record 656,545 properties nationwide, the company said. That amounts to 8.6 of every 1,000 households in the United States. "While we continue to see record numbers of foreclosures and actions that may lead to foreclosure, and despite the higher 6.1% August unemployment rate, it does appear that the overall situation is beginning to stabilize," said Alexis McGee, president of the firm. "Importantly, many regions of the country -- particularly the Northeast and Midwest -- have seen a less dramatic increase in foreclosures and pre-foreclosure activity in 2008 compared with 2007." The company can be found online at http://www.foreclosures.com.