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Yahoo introduces redesigned site for Real Estate foreclosures

Wednesday, April 4, 2007

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Yahoo! Inc., owner of the most visited U.S. Web site, introduced a redesigned real estate section today to

cover the growing number of home foreclosures.

The Yahoo Real Estate Foreclosure Center lets users search for foreclosures and offers analysis and education,

said RealtyTrac Inc., the company that developed the section, in a statement distributed by PR Newswire. The site lists

Detroit, Atlanta and Greeley, Colorado, as the U.S. cities with the most foreclosures.

U.S. foreclosure filings in February jumped 12 percent from a year earlier, RealtyTrac said in a March 26 report. The

worst housing slump in more than a decade is pushing down home prices and hampering the ability of owners to refinance

mortgages.

"We believe the current market presents a unique opportunity for any buyer looking for a bargain," RealtyTrac Chief

Executive Officer James J. Saccacio said in the statement.

Irvine, California-based RealtyTrac lists over 900,000 properties in foreclosure in the U.S.

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