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Foreclosure News | Foreclosure Resources | Foreclosure Prevention Guide

Foreclosures Filings Lower

252,363 June filings

July 10, 2008

By MortgageDaily.com staff


June Foreclosure filings eased from the prior month, though activity was still much worse than 12 months earlier. California continued to dominate among the worst states for foreclosures, while the Dakotas had the most favorable rankings.

During June, 252,363 U.S. foreclosures were filed, RealtyTrac reported today. Foreclosures fell from 261,255 the prior month but were well above 164,644 a year earlier. Year-to-date filings stand at 1,406,888.

The total reflects the number of properties with at least one foreclosure filing, including default notices, auction sale notices and real estate owned. The findings were based on a database of more than 1.5 million properties in more than 2,200 counties.

California saw 68,666 filings last month, more than any other state, the data indicated. Florida followed with, 40,351, then Ohio, at 13,194, and Arizona, which had 12,950. No. 5 was Michigan, with 12,025.

With just 11 foreclosures, North Dakota had the fewest filings of any state.

One U.S. foreclosure was filed for every 501 households, improving from one filing for every 483 households in May. During June 2007, one foreclosure was filed for every 704 households.

At one filing for every 122 households, Nevada had the worst foreclosure rate of all states. California was next, with one filing for each 192 households; then Arizona, at a filing for every 201 households. No. 4 was Florida, which saw one filing for every 211 households; and No. 5 was Michigan, with a filing for every 375 households.

Stockton, Calif., had the highest rate of any city, at one filing in every 72 households. No. 2 was Merced, Calif., with one filing for each 77 households; and No. 3 was Modesto, Calif., with one foreclosure for every 86 households.

"For the third month in a row, California and Florida cities accounted for nine out of the top 10 metropolitan foreclosure rates among the 230 metropolitan areas tracked in the report," RealtyTrac said.

North Dakota had the best foreclosure rate of any state, coming in at one filing for every 27,982 households.

U.S. REO filings reached 71,563 in June, down from 73,794 the prior month but climbing from 26,369 a year prior.

California saw 20,624 repossessions, the highest of all states, followed by Florida, at 5,536 REOs, then Texas, with 4,768. No. 4 was Michigan, at 4,715 REOs, and No. 5 was Ohio, at 4,553.

With just six repossessions, South Dakota had the fewest.

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