Foreclosure filings up again in June

RealtyTrac says unemployment driving much of increase

Foreclosure-related filings rose 4.6 percent from May to June, data aggregator RealtyTrac said today, and the 889,829 filings for the second quarter represented a 20 percent increase over the same quarter a year ago.

Unemployment-related foreclosures accounted for much of the increased activity, and the high number of borrowers who find themselves underwater — owing more on their mortgages than their homes are worth — represent a potentially significant future risk, said Realty Trac Chief Executive Officer James Saccacio in a press release.