Foreclosure filings up in October

U.S. foreclosure filings increased 5 percent from September to 279,561 properties this month -- one in every 452 households. That is up 25 percent from October 2007, according to research firm RealtyTrac.

"We've seen sharp declines in new foreclosure filings after legislation mandating delays to the foreclosure process was signed into law in several states -- most notably in California, where overall foreclosure activity was down by double-digit percentage points for the second straight month in October," said James J. Saccacio, CEO of RealtyTrac. "Despite this, October marks the 34th consecutive month where U.S. foreclosure activity has increased compared to the prior year."

Nevada reported the highest state foreclosure rate for the 22nd consecutive month in October. Foreclosure filings in Nevada stood at 14,483 properties this month, up 11 percent from the previous month.

Arizona posted the second highest state foreclosure rate, with 17,507 filings, up nearly 35 percent from September.

Florida registered the third highest state foreclosure rate, with 54,324 filings, an increase of 13 percent from the previous month.

Other states among the top 10 were California, Colorado, Georgia, Michigan, New Jersey, Illinois and Ohio.

Login or Register to post a comment.