RealtyTrac: Foreclosure Filings Rose 75% in '07

More than 2.2 million foreclosure filings were reported nationwide in 2007, up 75% from the level recorded in 2006, according to RealtyTrac, an online foreclosure marketplace based in Irvine, Calif. In December, 215,749 foreclosure filings were reported, up 97% from the total of a year earlier, the company said in its 2007 U.S. Foreclosure Market Report. (Foreclosure filings include default notices, auction sale notices, and bank repossessions.) "The year ended with a monthly increase of 7% in December, making it the fifth straight month with more than 200,000 foreclosure filings reported and giving the fourth quarter the highest quarterly total we've seen since we began issuing our report in January 2005," said James J. Saccacio, chief executive officer of RealtyTrac. RealtyTrac said Nevada, Florida, and Michigan recorded the highest foreclosure rates in 2007. The company can be found online at http://www.realtytrac.com.