Guilford foreclosures double in four years

News-Record.com - Greensboro, North Carolina: News: Guilford foreclosures double in four years: "Home foreclosures have more than doubled in Guilford County during the past four years, a News & Record analysis shows.

The number of homes under foreclosure each month grew from 103 in January 2002 to 242 in December 2005, according to new data from Foreclosure.com.

'It definitely has been a pretty steady increase based on the clients that are coming in to see us,' said Paul McCollum, the counseling supervisor for the Consumer Credit Counseling Service in Greensboro.

Foreclosure begins when a homeowner is unable to pay a mortgage. Ultimately, the mortgage holder can sell or auction the home to settle the loan."
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