California Tops Country in Foreclosure Filings
In spite of the industrywide moratorium earlier this year, along with local, state and national legislative action and increased levels of loan modification activity, foreclosure activity continues to increase to record levels.
A total of 1.9 million foreclosure filings were reported on more than 1.5 million U.S. properties in the first six months of 2009, a 9% increase from the previous quarter and a nearly 15% increase from the first six months of 2008, according to RealtyTracís Midyear 2009 U.S. Foreclosure Market Report.
A whopping 391,611 California properties received a filing, the nationís highest foreclosure total. The stateís foreclosure activity in the first half increased nearly 14% from the previous six months and increased nearly 15% from the first half of 2008. Other states with totals among the 10 highest in the country were Illinois (68,932), Michigan (60,786), Ohio (58,937), Georgia (56,391), Texas (49,144) and Virginia (28,368).