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NEW YORK CITY-Foreclosure rates in the US housing market continue to be on the rise, thereby affecting the stability of home prices and forcing many Americans to lose their homes.

According to RealtyTrac, the month of July witnessed over 300,000 foreclosure filings, which included bank repossessions, auction notices and default notices, making it the 17th consecutive month to report such a high number of foreclosures. Bank repossessions have increased over the past eight months, with 92,858 homes repossessed in July. For the full story, go to New York Times.


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