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 October 13, 2007

September shows Drop in Foreclosures, yet Still Up 99% Over 2006
Nationwide foreclosures saw a decrease of 8% in September. This is compared with August when foreclosures hit a 32-month high. The reality is that foreclosures are up 99% compared to September 2006.
In the month of September, there were 223,538 filings for foreclosure. That accounts for one out of every 557 households in the country. The states of California, Nevada and Florida led the nation. Other states reporting foreclosure rates among the highest in the country are: Arizona, Ohio, Michigan, Texas, Colorado and Indiana.

39 states reported a decrease in foreclosure activity in September. Realty Trac, and online market for foreclosure properties reports that it is too soon to tell if the September figures mark the start of a trend.

The foreclosure rate dropped in Michigan and Texas; however both states still reported more than 14,000 filings for the month. The state of Georgia reported 11,926 filings which is a decrease from August, yet still is the 6th highest total in the nation.

The state of Illinois ranked 11th in total foreclosures was the only state to report an increase in September.

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