Foreclosure Filings Up Over May, Down from 2011

Irvine, CA, June 14, 2012 -- Foreclosure filings rose 9% in May, compared with April, but were down 4% compared with the same month last year, according tracking firm RealtyTrac.

“U.S. foreclosure activity has now decreased on a year-over-year basis for 20 straight months including May, but the jump in May foreclosure starts shows that it’s going to be a bumpy ride down to the bottom of this foreclosure cycle,” said Brandon Moore, CEO of RealtyTrac, in a news release.

Total filings affected 205,990 properties in May. Filings were below the 200,000 level in March and April.

Foreclosure starts rose 12% in May, compared with April and rose 16% over the year.

Also, while bank repossessions rose 7% compared with April, they were down 18% from May 2011.

Georgia is now the state with the highest foreclosure rate, over Arizona, Florida, California and Nevada.


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