US foreclosures up 57% in January

The number of homes facing foreclosure in the US rose 57% in January compared with the same month of 2007.

Exactly 233,001 homes received at least one notice about overdue payments last month, compared with 148,425 in January 2007, US property site RealtyTrac said.

There was a 90% increase in the number of houses being repossessed by banks compared with January 2007.