Number of bank-owned homes rising:

04/30/2008 | CNBC

A new quarterly foreclosure report from California-based RealtyTrac shows the number of bank-owned properties is rising faster than ever. "Typically you'll see about 20% of the foreclosure filings being bank-owned," RealtyTrac's Rick Sharga said. "We're getting to a point now where it's well over one-third and aiming at 40%, so that just suggests that a lot of these homes can't even be sold to investors at auctions – because there's just no equity in the properties."

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