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US foreclosures up 6%



Country:  United States

16 March 2009

The number of foreclosure fillings in the United States leaped by almost 6% last month, according to a fresh report.

Data compiled by RealtyTrac shows that foreclosure filings reached 290,631 US homes in February, up almost 30% from the corresponding month in 2008.

The report also shows that one in every 440 properties in United States received a foreclosure filing in February.

The problem was most acute in Nevada, where one in every 70 residential properties received a foreclosure filing in February, up 9% month-month, followed by Arizona, where one in every 147 homes received a foreclosure filing. California had the third highest rate, with one in every 165 properties receiving a filing.

The other states named in the top 10 list of highest foreclosure rates were Florida, Idaho, Michigan, Illinois, Georgia, Oregon and Ohio.

With unemployment figures in the States growing, foreclosure rates could yet worsen.



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