5 States Top the List With the Most Foreclosures

[Moe Bedard]

According to Realty Trac, 5 states top the list with the most foreclosure filings. California, Florida, Michigan, Ohio and Georgia together accounted for 55 percent of all U.S. foreclosure filings in July, according to the RealtyTrac U.S. Foreclosure Market Report released today. The foreclosure filings tracked in the report are default notices, auction notices and bank repossessions.

California reported the most foreclosure filings of any state, with 39,013. The state's foreclosure activity was actually down a half a percent from the previous month but still up 289 percent from July 2006. California's foreclosure rate of one foreclosure filing for every 333 households slipped from third highest in June to fourth highest in July, behind foreclosure rates in Nevada, Georgia and Michigan.