foreclosureAbout 75% of America's large metropolitan areas saw a year-on-year increase in home foreclosure activity in the first half of 2010, according to a new report.

RealtyTrac, an online marketplace for foreclosure properties, said 154 out of 206 metropolitan areas with a population of 200,000 or more saw an increase in foreclosure activity.

"While we're seeing early signs that foreclosure activity may have peaked in some of the hardest-hit markets, foreclosures continued to rise in three-quarters of the nation's metropolitan areas in the first half of the year," said James J. Saccacio, CEO of RealtyTrac.

Of the top-20 metro areas for foreclosure rate, nine were located in Florida and eight were in California.

Las Vegas had the highest foreclosure rate, with 6.6% of its housing units receiving a foreclosure filing. That's more than five times the national average.

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scottee

the government is wrecking the economy and therefore jobs...so blame them and blame us for voting them in!

July 29 2010 at 8:07 PM Report abuse rate up rate down Reply
scottee

you all can thank Chris Dodd and Barney Frank.
they forced the banks to loan to anyone whether they could pay or not.
and then backed the banks up with government money.
so they are losers,
you are the loser,
the government is the loser
and the banks win!
Dodd and Frank need to be sent packing back to their states to try to get a private sector job in this crappy economy they created!

July 29 2010 at 8:06 PM Report abuse +1 rate up rate down Reply
divco69

As companies continue to downsize, resist hiring, personal savings grinds to a halt and people tend to use every last dollar on their mortgage till they become 99'ers and the house has got to go. Hence the climbing forclosures rate. Watch for this trend to continue well into 2011 and end somewhere after fall of 2012 if we can make it that long. Of course by then the top 2% will own everything.

July 29 2010 at 8:31 AM Report abuse rate up rate down Reply