American foreclosure filings for 2008 is 81% more than 2007

U.S. foreclosure filings for the year 2008 rose by 81% in the year as compared to the previous year 2007.The total number of foreclosure filings in the year were nearly 3.16 million that included the default notices, bank repossessions and auction sale notices.

For the housing units in Irvine, Calif., a consultant reported that for every 54, one received the foreclosure filing in the year and the data suggested that the foreclosure prevention program did not bring much change to the situation.