FORECLOSURES LIKELY TO SET RECORD IN 2007

Foreclosures slipped 4 percent in February from the month earlier, but were 12 percent higher than the same time in 2006."Based on our numbers for the first two months of 2007, foreclosure activity is running at a rate that would project to a 33 percent increase over 2006," said James J. Saccacio, chief executive officer of RealtyTrac.States with the highest foreclosure rates in February were Nevada, Colorado and Florida. Nevada had one foreclosure filing for every 278 households. Colorado reported one foreclosure for every 345 households, and Florida had one foreclosure filing for every 382 households. Nationwide, there was one foreclosure for every 884 households.

SOURCE­– REALTOR® Magazine Online