Triple Digit Foreclosures in August

Tens of thousands of people lost their homes to foreclosure just last month, and tens of thousands more people are in line for more of the same, according to a report by foreclosures.com. Eleven states have had increases in foreclosure rates in the triple digit range as compared to just one year ago. To date in 2007, a whopping 731,244 pre-foreclosures have been filed nationwide. That's almost 10 foreclosures per thousand housholds nationwide. It doesn't stop there unfortunately, because the statistics show that 4.9% of current homeowners are subprime borrowers with ARMs.