Pa. homes in foreclosure hit 4-year high in July

August 13, 2009 5:15:33 AM PDT
The number of Pennsylvania homes entering the foreclosure process reached a new four-year high in July. New figures out Thursday from foreclosure listing firm RealtyTrac Inc. show more than 5,300 Pennsylvania homes received at least one foreclosure filing last month.

That was up 7.6 percent from June to last month, or 375. It was the highest monthly total since RealtyTrac began collecting the data in April 2005.

More than 1,600 of those were seized.

July's increase was the second straight monthly increase after a big drop in May, and was slightly higher than the national increase of 6.7 percent over the same period.

Pennsylvania's foreclosure rate was about one-third the national rate, with one in every 1,030 homes receiving a foreclosure filing last month.

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