According to Realty Trac [1] and CNBC’s Realty Check [2]:

•There were 93,000 completed bank repossessions in July - up 9% from last month, and up 6% from a year ago. This is the 2nd worst monthly reading ever.
•Factoring in all of the repossessed properties held by the government lenders and private lenders, there are nearly 600,000 repossessed properties being held by lenders as of right now.
•The National Association of Realtors tells us that 564,000 properties were sold in June. This factors in ALL homes sold, not just foreclosures. Even so, that number is below the number of foreclosures currently “on the books” at our nation’s lenders (600,000)
•New claims for unemployment spiked yet again in the past week, with 484,000 more new claims for unemployment being filed – the highest since February

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