The most recent figures indicate that foreclosures are still on the rise. RealtyTrac, the leading online marketplace for foreclosure properties, has reported that filings increased 12 percent in August from just July. The figures are 27 percent above August 2007 numbers.

“In August the total number of U.S. properties that received foreclosure filings as well as the national foreclosure rate were both the highest we’ve seen in any month since we began issuing our report in January 2005; however, the annual increase of 27 percent was actually substantially lower than in previous months this year, when it was hovering around 50 to 65 percent,” said James J. Saccacio, chief executive officer of RealtyTrac. These numbers are showing that 1 in every 416 U.S. homes received a foreclosure filing.

Certain states have an even higher rate of foreclosures. Nevada holds the lead at 1 in every 91 homes.

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Published: September 17, 2008

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