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According to USA TODAY, July 2008 respossessions were nearly 3 times those in July 2007. One in every 464 homes received a foreclosure filing last month. This rise in Bank-owned foreclosures is helping to bring down the national median price of homes. According to the National Association of Realtors, about one-third of current sales are either bank-owned or short-sale properties.
Foreclosure properties are selling!