The Real Deal Miami

U.S. bank seizures of homes spike 

February 26, 2008 09:05AM

As homeowners fall behind on higher payments on adjustable-rate
mortgages, bank seizures of U.S.
homes are increasing rapidly. Repossessions increased 90 percent last month
compared to a year ago, according to RealtyTrac. Overall foreclosure filings
increased 57 percent.