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There is no comfort in knowing you could lose your home, in which you’ve made many memories, because of financial difficulty. According to RealtyTrac, an online marketplace for foreclosure properties, foreclosure filings – default notices, scheduled foreclosure auctions and bank repossessions – were reported on 332,292 U.S. properties in October, up nearly 19% from that time last year. One in 385 U.S. homes received a foreclosure filing that month.
Since the highly publicized foreclosure woes of Evander Holyfield and Michael Jackson, more celebrities have joined the thousands of homeowners hit by financial strain of a weakened economy.