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Foreclosure News | Foreclosure Resources

Foreclosure Filings Continue to Climb

224,451 foreclosures in October

November 29, 2007

By MortgageDaily.com staff


Foreclosure filings continued their ascent last month, rising marginally from September. But two states, Vermont and Delaware, offered positive data in an otherwise bleak report.

U.S. filings, which include default notices, auction sale notices and bank repossessions, totaled 224,451 in October, RealtyTrac reported today. Filings rose 2 percent from the prior month and were 94 higher than a year earlier. The level of activity represented one filing for every 555 households.

The tracking service said its data was drawn from a database of 1 million properties in nearly 2,500 counties.

RealtyTrac reported a 9 percent monthly decrease in default notices and a 35 percent increase in real estate owned.

California saw the highest number of foreclosures, 50,401 filings, according to the report. Florida was next, with 30,190 filings, followed by Ohio, which had 17,276 foreclosure filings.

Vermont had the fewest reported foreclosures, with just nine reported.

Alaska, with 252 filings, saw a 100 percent monthly increase -- the highest of any state, though it still had a very favorable rate at one filing per every 1,088 households, the data indicated. Delaware, on the other hand, saw the biggest decrease -- falling 45 percent to just 131 filings.

Based on the foreclosure rate, Nevada topped the list with one filing for every 154 households, RealtyTrac said. California had the second highest rate, at one foreclosure for every 258 households, then Florida, which saw one filing for every 273 households.

Vermont reportedly had the lowest foreclosure rate of any state, with just one filing for every 34,149 households.

Among metropolitan areas, the California cities of Merced, Stockton and Modesto respectively held the No. 1, No. 2 and No. 3 worst foreclosure rates. A total of six California cities ranked among the 10 worst.

Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.



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