California January Foreclosures Up 120% YOY

Realtytrac reported foreclosure filings — default notices, auction sales notices and bank repossessions — were reported on 233,001 properties during the month,

an increase of 8% from the previous month and an increase of nearly 57% from January 2007.

Foreclosure filings were reported on a total of 57,158 properties in California in January, the most of any state.

The state’s foreclosure activity was up 7% from the previous month and up 120% from January 2007.

California may be the #1 state but... The Cape Coral-Fort Myers, Fla., metro area documented the highest January foreclosure rate among the 229 metro areas.

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