U.S. Foreclosures Rise 48% in May

RealtyTrac data show one in every 483 households received a foreclosure filing last month.
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The number of foreclosure filings in the U.S. continued climbing last month, marking a 48% rise from a year ago, according to RealtyTrac.

Nationwide, 261,255 homes received at least one foreclosure-related filing in May, up from 176,137 in the same month a year ago and up 7% from the prior month.

According to the foreclosure-monitoring company, the data reveal that one in every 483 households received a foreclosure filing last month.

Banks and lenders were generally trading flat to lower early Friday.

Bank of America

(BAC) - Get Report

was trading down 35 cents, or 1.2%, at $29.09;

Countrywide Financial

(CFC)

was trading down 3 cents, or 0.6%, at $4.76;

Fannie Mae

(FNM)

was down 84 cents, or 3.4%, at $24.05;

Freddie Mac

(FRE)

, down 57 cents, or 2.5%, at $21.92; and

Wells Fargo

(WFC) - Get Report

, down 30 cents, or 1.2%, at $25.72.

This article was written by a staff member of TheStreet.com.