August 21, 2007 (LPAC)--The volume of U.S. homes that face foreclosure almost doubled in July, compared to July 2006, RealtyTrac Inc. reported. Bank lending institutions sent to homeowners 179,599 notices of default, scheduled auctions or bank repossessions in July, a 93 percent increase from July a year earlier.

"We are estimating that we will see about 2 million foreclosure filings this year," said Rick Sharga, RealtyTrac's Executive VP for marketing, which is significantly up from RealtyTrac's previous estimate of about 1.5 million foreclosures.

California foreclosure filings totaled 39,013 in July, nearly triple the previous year. Florida's were up 78% over the previous year's July.

While bankers attempt to deny the destructive effects of the bankruptices on households, it should be obvious that this has social and related implications which are completely unacceptable, and Lyndon LaRouche has repeatedly explained (and demanded)  the government measures which are required to keep homeowners in their present homes.