November 18, 2008
ME foreclosures inch up
By The Mainebiz News Staff
Maine home foreclosures were up slightly in the second quarter, but remain relatively low when compared with the total mortgages in the state.
Of the 86,669 mortgage loans from state-chartered banks and credit unions, 177 -- or one in every 490 -- were in foreclosure in June, according to the Associated Press. The data from the state Bureau of Financial Institutions found that was an increase from 166 loans three months earlier, or one in every 517. Maine foreclosures have trended upward since 2000.
Nationally, one in every 452 homes was in foreclosure last month, and RealtyTrac expects around a third of all U.S. homes on the market by the end of year will be bank-owned, the AP reported.
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