Foreclosures Up In January by 57%

If there's one thing to count on these days, it's that every month the foreclosure crisis will get worse.

January was no exception. Filings of all types, including default notices, auction notices and bank repossessions, soared by 57% compared with last year, according to RealtyTrac, an online marketer of foreclosure properties.

A total of 233,001 homes were affected, 8% more than in December. Of that total, 45,327 homes were lost to bank repossessions during the month. The only good news was the comparatively modest month-to-month increase in total filings.

read the CNN article