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Foreclosures Up 75 Percent in 2007

By FindLaw Staff

Foreclosure filings in the United States increased 75 percent in 2007 when compared with data from 2006, according to Realtytrac, a nationwide real estate data organization. In a Press Release, Realtytrac reports that foreclosure filings nationwide totaled 2,203,295 in 2007, with more than 1 percent of all households in the U.S. in some stage of the foreclosure process during the year. The five states with the highest rates of foreclosure in 2007 were Nevada, Florida, Michigan, California, and Colorado. California had the highest number of foreclosure filings of any state in 2007, with 481,392 filings.

• Realtytrac: U.S. Foreclosure Activity Increases 75 Percent in 2007
• Associated Press: Nevada Had Top Foreclosure Rate in 2007
• CNN.com: 2007 Foreclosures State-by-State
• Real Estate Center: Foreclosure (FindLaw)
• State-Specific Information on Foreclosure (FindLaw)

Full post as published by FindLaw's Common Law on January 29, 2008 (boomark / email).