Foreclosures Rise 93% Year-to-Year

July foreclosure filings -- including default notices, auction sale notices and bank repossession -- rose 93% from July 2006 and were up 9% from June, according to the latest U.S. Foreclosure Market Report from RealtyTrac."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 James J. Saccacio, chief executive officer of RealtyTrac. A few states actually reported declining foreclosure activity on a year-over-year basis. Mr. Saccacio said some of these states could be benefiting from increased interest from real estate investors who have pulled out of more volatile markets.