Pre-Foreclosures Hit Record Highs in July 2008

According to new figures from Foreclosures.com, pre-foreclosures hit record highs in July 2008 both nationally and in 14 states and the District of Columbia.

Alexis McGee, real estate expert, educator, and president of Foreclosures.com "So far this year, more than 1.25 million Americans faced the risk of loosing their homes to foreclosure, up 7.3% from June 2008, and up 88.62% from July 2007." She also said, ""The nation's Southwest and Southeast regions have been hardest hit with three and four times the number of pre-foreclosures in July 2008 than in the Northeast and Midwest (Southwest, 86,625; Southeast, 65,458; Northeast, 20,541; Midwest, 19,640)."

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