• ECONOMY
  • JANUARY 14, 2009, 6:36 A.M. ET

Foreclosures Surged 64% in 2008

more in Business »

BY KERRY E. GRACE

U.S. home foreclosures jumped 64% to nearly one million homes in 2008 from a year earlier, according to foreclosure-listing service Foreclosures.com.

While President Alexis McGee called the figure "staggering, it was not unexpected," as the firm has been anticipating a one million figure since July.

"But there is good news -- a variety of indicators show that some housing markets are bouncing back ...

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