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Home foreclosures for July 2009 numbered 360,149, a 7% increase from June and 32% increase from July 2008. The report comes from RealtyTrac, an online marketplace for foreclosure properties. The report also showed that one out of every 355 housing units in the U.S. was on the receiving end of a foreclosure filing in July.
Which states topped the home foreclosure list?
Nevada, California, and Arizona find themselves the unsuspecting 1, 2, and 3 in the foreclosure running. Nevada had the highest national foreclosure rate, more than 6 times the national average and experienced a 4% increase from the previous month. California was #2 in national foreclosures for a second month, at nearly 3 times the national average. Arizona rounded out the top three, with a foreclosure rate of 2.5 times the national average.
Other states with high foreclosure rates included Florida, Utah, Idaho, Georgia, Illinois, Colorado, and Oregon.
Are there resources are available to a homeowner to prevent foreclosure?
Absolutely. No one facing home foreclosure in this economy is alone and resources are abound--ranging from government assistance, loan modification programs, and various counseling and guidance services.
Here are a few resources to get you started:
Meeting with a lawyer can help you understand your options and how to best protect your rights. Visit our attorney directory to find a lawyer near you who can help.