Foreclosures Nearly Double Over Last Year

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Foreclosures Nearly Double Over Last Year

Irvine, CA, August 21, 2007--Foreclosure filings in July were up 93% over a year ago with Georgia among the top five states nationally.

 

In addition, filings rose 9% from June to July.

 

In all, 179,599 foreclosure filings were reported during July, up from 92,845 a year ago, according to Irvine-based RealtyTrac Inc.

 

A total of 164,644 foreclosure filings were reported in June.

 

"While 43 states experienced year-over-year increases in foreclosure activity, just five states -- California, Florida, Michigan, Ohio and Georgia -- accounted for more than half of the nation's total foreclosure filings," said RealtyTrac Chief Executive James J. Saccacio.

 

Georgia's foreclosure rate was more than twice the national average, with one filing for every 299 households. The state reported 12,602 foreclosure filings, up 75 percent from June.