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Foreclosure News | Foreclosure Resources

Mixed Foreclosure Data

Over 1 million foreclosure filings year-to-date November

December 12, 2007

By MortgageDaily.com staff


California maintained its status as the state with the highest number of foreclosed properties, though the number of filings fell from October. Texas, meanwhile, saw its real estate owned filings more than double.

ForeclosureS.com reported that 14.8 of every 1,000 households nationwide faced pre-foreclosure as of Dec. 1. For the entire year through November, 1,082,712 homes entered the foreclosure process nationwide, a 93 percent jump from 2006.

The figures are reportedly based on a database of 3.5 million property listings. Filings can number up to three per property depending on laws in the local area of the property.

Among the worst ranked counties for pre-foreclosures were Maricopa County, Ariz., with 7,489 filings; Miami-Dade County, Fla., with 5,634 filings; Los Angeles County, Calif., with 4,739 filings; Cook County, Ill., with 4,615 filings; and Broward County, Fla, with 4,440 filings, according to the report.

Real estate owned filings were 72,101 last month, 32 percent higher than October, ForeclosureS.com said.

California, with 11,040 REO filings during November, had the most filings of any state, according to the report. Despite its No. 1 ranking, the Golden State saw 4 percent fewer filings than in October though filings were 360 percent higher than November 2006.

Texas ranked second, with 9,266 REO filings -- more than double the prior month but just 61 percent higher than a year earlier, ForeclosureS.com said. Next was Florida, with 5,087 filings, followed by Ohio, at 4,294 filings, and Georgia, with 3,657 filings.

"Our newest ForeclosureS.com report shows pockets of actual drops in the number of foreclosure and pre-foreclosure filings from a year ago," the report said.

Year-to-date, national REO filings totaled 526,936, 41 percent higher than the same period in 2006, the announcement indicated.

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