The Raw Story | US home foreclosures surge

The Raw Story | US home foreclosures surge: "Home repossessions spiked across the United States during 2007 leaving over one percent of all households in some stage of foreclosure, an industry report showed Tuesday.

RealtyTrac, a California-based company which tracks foreclosure activity, said 2.2 million foreclosure filings were lodged during 2007, marking a 75 percent increase compared with the prior year.

The percentage of households in foreclosure almost doubled from 0.58 percent in 2006, signalling the slump in the US housing market has yet to abate."