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Foreclosure News | Foreclosure Resources | Foreclosure Prevention Guide

Mixed Foreclosure Data

87,465 REOs in June

July 14, 2008

By MortgageDaily.com staff

A new foreclosure report indicated foreclosure filings fell last month. But repossessions increased.

Pre-foreclosure filings totaled 181,779 during June, ForeclosureS.com reported today. Filings fell from a revised 189,854 in May but soared from 79,896 reported in June 2007.

The Sacramento, Calif.-based company said its findings were derived from a database of more than 5.5 million property listings.

Florida saw the most filings, at 48,099, followed by California, which came in at 41,429, the report said. Arizona, with 17,579 fillings was next, then Illinois, at 8,315, and New Jersey, which had 7,993.

Of the 41 states for which data was reported, Mississippi and Indiana had the fewest filings, at none.

Pre-foreclosures filed in the second quarter were 547,211, rising from 512,976 in the first quarter, the data indicated. Year-to-date filings were 1,062,567.

U.S. real estate owned filings were 87,465 last month, ForeclosureS.com reported. REOs climbed from a revised 83,022 in May but more than doubled the 41,592 reported in June 2007.

With 23,729 repossessions, California saw more REOs than any other state. Florida followed with 11,787, then Arizona, at 8,363, and Texas, which had 5,903. No. 5 was Michigan, at 5,296.

No REOs were reported for North Dakota, better than any other state on the report.

ForeclosureS.com speculated that there could be as many as 1 million U.S. REOs this year. Through June, 458,580 REOs have been filed.

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