Home Repossessions Rising As Banks Convert Shadow Inventory to Real Inventory

"According to Realty Trac's U.S. Foreclosure Market ReportTM for May, a total of 322,920 properties nationwide were the subject of a foreclosure filing during the month compared to 333,837 in April. This is one in every 400 U.S. housing units. The new figure represents a 3 percent decrease in foreclosure filings vs. April and a 1 percent increase over the filings reported in May 2009."