ByKirk Ogunrinde,
Former Contributor.
Foreclosure rates for U.S.-based properties in October rose by nearly a third from last year and 2% from the month before, as homebuyers wrestle to keep up with the rising costs of goods and services.
Mortgages and lenders repossessed 3,872 U.S. properties in October, a 32% increase from the same period last year, data from property data firm ATTOM shows.
Homebuyers began the foreclosure process on 25,129 properties during the month, up 6% from the previous month in an eighth-straight monthly increase.
