More than 223,000 foreclosure filings were reported nationwide in September, down 8% from the level recorded in August but up 99% from that of a year earlier, according to RealtyTrac, an online foreclosure marketplace based in Irvine, Calif.The nation's foreclosure rate stood at one foreclosure filing for every 557 households, the company said in its September 2007 U.S. Foreclosure Market Report. (Foreclosure filings include default notices, auction sale notices, and bank repossessions.) "U.S. foreclosure activity experienced a fairly broad-based retreat in September, with 39 states reporting decreasing activity and national numbers down in all foreclosure categories -- defaults, auctions, and bank repossessions," said James J. Saccacio, chief executive officer of RealtyTrac. "Nevertheless, it's important to note that September's total was still the second-highest monthly total we've seen since we began issuing our report in January of 2005." The company said Nevada, Florida, and California recorded the highest foreclosure rates in September. The company can be found online at http://www.realtytrac.com.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry