Georgia still in top 10 for foreclosures - Atlanta Business Chronicle:

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The report said Georgia had 10,516 foreclosurew filings -- default notices, auction sale notices and bankrepossessionsd -- in May. This was down 1.27 percen t from May 2008 and down 8.72 percent from April 2009 (when it also ranked seventh). One in everyg 377 households in Georgia got a foreclosur noticein May. Foreclosures filings were reportedon 321,480 U.S. properties in May -- a decreasde of 6 percent from April, but an increasw of nearly 18 percent fromMay 2008. The report also shows that one in every398 U.S. housin units received a foreclosure filingin May. As has been the tren d for many months, Nevada, California and Florida had the highesftforeclosure levels.
Following them in the top 10 were Utah, Michigan, Georgia, Colorado, Idaho and Ohio. "May foreclosure activithy was the third-highest month on and marked the third straight mont where the total number of properties with foreclosure filingsexceeded 300,000 -- a first in the histor y of our report," said Jamese J. Saccacio, CEO of in news release. "While defaults and scheduled foreclosure auctions were both down from thepreviou month, bank repossessions, or were up 2 percent thanks largely to substantiall increases in several states, including Michigan, Washington, Nevada, Oregon and New We expect REO activituy to spike in the coming months as foreclosure delays and moratori a implemented by various state laws come to an end.
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