U.S. mortgage foreclosure filings in August hovered near July's record high despite efforts to keep borrowers in their homes, The New York Times reported September 10, 2009.
Predictions are for foreclosure filings to continue to rise for another year.
Filings, including notices of default, auction and bank repossession, dipped 1 percent last month from July's all-time high and were up 18 percent in August from August 2008
The Times obtained its data from foreclosure firm RealtyTrac. One in every 357 U.S. households with loans got a foreclosure filing in August.
Six states had 62 percent of total foreclosure actions in August. Nevada, Florida and California had the highest state foreclosure rates, respectively. Rounding out the states with the highest rates of foreclosure activity were Michigan, Idaho, Utah, Colorado, Georgia and Illinois. A new Michigan law requiring lenders to file a separate public default notice before slating a foreclosure auction pushed the state to the fifth highest rate from 19th place in the prior month.
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