US home repossessions rise in May


    FORECLOSURE ACTIVITY: Foreclosure listing service RealtyTrac Inc. says that banks filed foreclosure-related warnings against 205,990 U.S. homes in May. That’s up 9 percent from April, but down 4 percent from May last year.

    NEWLY AT RISK: Lenders initiated foreclosure proceedings against more U.S. homeowners in May. The number of homes entering the foreclosure process rose 12 percent from April and increased 16 percent versus May 2011.

    REPOSSESSIONS UP: The number of properties taken back by banks last month rose 7 percent from April. But repossessions fell 18 percent from May last year.