In Parts of U.S., Foreclosures Top Sales

March 1, 2008
In Parts of U.S., Foreclosures Top Sales

Mortgage foreclosure notices are going out so fast that in some states the number of new foreclosure proceedings each month is greater than the number of homes sold that month.

The foreclosure problem appears to be greatest in the West, particularly in Nevada, where home prices soared in the housing boom and are now falling rapidly.