Revealed: The ten US cities where home foreclosures are rising fastest - amid concerns owners are sitting on a 'negative equity timebomb'

Home foreclosures have shot up for the second year in a row – as concerns grow that owners are sitting on a ‘negative equity timebomb.’

Figures from data firm ATTOM show that around 186,000 foreclosures have been filed in the first six months of the year. The trend is being driven by an uncertain housing market and soaring mortgage rates.

But a disparity remains across America, with some property landscapes faring much worse than others.

According to Attom’s data, the city to see the biggest jump in foreclosures was Atlantic City in New Jersey where 6.8 houses in every 10,000 are facing repossession.

It was followed by Florence, South Carolina, New Haven, Connecticut and Baltimore, Maryland.