Foreclosure Activity Falls in February

Nationwide, the number of new foreclosure filings totaled 130,786 in February, down 4% from January, according to RealtyTrac.That translates into a national foreclosure rate of one filing for every 884 households. The foreclosure rate in February of this year was up 12% from February of 2006. RealtyTrac's foreclosure yardstick includes default notices, auction-sale notices and bank repossessions. But despite the month-over month improvement, 2007 still could shape up to be a troublesome year. "Based on our numbers for the first two months of 2007, foreclosure activity is running at a rate that would project to a 33% increase over 2006," said James Saccacio, CEO of RealtyTrac. The states with the highest foreclosure rates in February were Nevada, Colorado and Florida. The company can be found online at www.realtytrac.com