Foreclosures up 72%

Mortgage lenders began foreclosing on 323,102 mortgages during the first quarter, which represents an increase of 72 percent from a year ago, according to a new report from RealtyTrac Inc.

Rapid increases in adjustable rate mortgages, coupled with increased fuel costs, have increased the burden on many homeowners and the soft market has made sales of their houses very difficult.

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