US foreclosures at record level

NEW YORK: US home foreclosure activity galloped to a record in the first half of the year, overwhelming broad efforts to remedy failing loans while job losses escalated.

Foreclosure filings jumped to a record 1.9 million on more than 1.5 million properties in the first six months of the year, RealtyTrac said yesterday.

The number of properties drawing filings, which include notices of default and auctions, jumped 9 percent from the second half of 2008 and almost 15 percent from the first half of last year.