Foreclosures Rise in August

Foreclosure filings were reported on 303,879 U.S. properties in August, a 12 percent increase from the previous month and a 27 percent increase from August 2007, according to RealtyTrac, an online marketplace for foreclosure properties. The company said one of every 416 U.S. households received a foreclosure filing during the month. RealtyTrac CEO James J. Saccacio noted that the 27 percent figure was lower than previous months' numbers, suggesting that default and auction activity is bottoming out. The top 10 states for foreclosures were Nevada, California, Arizona, Florida, Michigan, Georgia, Ohio, Colorado, Illinois, and Indiana. Michigan, Georgia, Ohio, and Colorado reported annual decreases in foreclosure activity.
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