Q2 Foreclosures Double

"The latest RealtyTrac foreclosure data is out, and it is rather astonishing: Almost 740,000 properties were in some stage of the foreclosure process, the most since they began tracking this data in January 2005. That represents one in every 171 U.S. homeowners that either 1) lost their house to foreclosure; 2) received a default notice or 3) was warned of a pending auction. This is an increase of 121% from a year earlier, and is a 14% rise quarter over quarter."