Second Quarter Foreclosure Reports on Top Five States

The second quarter foreclosure reports on top five states show that the first three positions in the state foreclosure rate were occupied by Nevada, California and Arizona. The second quarter of 2008 found one in every 43 households in Nevada with a foreclosure filing. It had the highest foreclosure rate among states. Property filings in Nevada reached a peak during the second quarter of this year with a record of 24,657 foreclosure filings, considered to be 26% up from the last quarter and a runaway 147% up from the same quarter of 2007, according to RealtyTrac.

California reached the highest total in the number of foreclosure filings among the states with 202,599 foreclosure filings on properties where one in every 65 households received a foreclosure filing. It claimed the nation’s second highest state foreclosure rate, with an increase of 19% in foreclosure activity from the first quarter of 2008 and three times the figure in the same quarter of 2007, as per records.

Foreclosure filings in the state of Arizona in the second quarter of 2008 went up by 36% from the last quarter and nearly increased four times the figure recorded in the second quarter of 2007.Foreclosure filings posted for the same period was 37,230 on Arizona properties where one in every 70 households received foreclosure filing and Arizona had the nation’s third highest state foreclosure rate for the quarter ending June, 2008.

Florida, the nation’s fourth highest state in foreclosure rate stepped up a 25% hike in foreclosure activity during the second quarter of this year. Foreclosure filings on Florida reo properties were 109,433, with one in every 78 households receiving a foreclosure filing during the same period, which was more than double the national average and the second highest total among all the states.

Colorado found itself in the fifth highest position during the second quarter of 2008 in the national foreclosure market rate marking more than a 50% rise from the second quarter of 2007. One in every 129 Colorado household received a foreclosure filing during the quarter although data show a 15% decrease in foreclosure activity during these months.

Ohio documenting the third highest total among states had the sixth highest foreclosure rate in the country. During the second quarter 37689 foreclosure filings were reported, with one in every 134 households receiving a foreclosure filing, raising the figure up by 21% from the last quarter and almost 27% higher than the second quarter of 2007.