UNDATED - Data shows that fewer U.S. homes entered the foreclosure process or were seized by lenders in July. It's the latest sign banks are taking a measured approach to moving against homeowners who have fallen behind on mortgage payments.
According to foreclosure listing firm RealtyTrac, some 59,516 homes received an initial default notice last month, down 7 percent from June and down 39 percent from July 2010.
The notices, which are the first step in the foreclosure process, have fallen 58 percent below their April 2009 peak.
RealtyTrac says homes scheduled for auction also declined in July, while the number of homes seized by banks slipped 1 percent from June and slid 27 percent versus July last year.
The slowdown in foreclosure activity isn't due to an improving housing market. It's the result of foreclosure processing delays and banks' reluctance to take back properties while there is a glut of unsold foreclosed homes on the market.
YEAR-TO-DATE DATA
Here is a list of the top 10 states with the highest foreclosure rates in the first half of this year.
The ratio shows, for example, that one out of every 115 households in Nevada received a foreclosure notice in July. Also highlighted: The number of properties that received notices.
Rate rank State Ratio of foreclosures to households in state Total properties with filings
1 Nevada 1:115 9,930
2 California 1:239 56,193
3 Arizona 1:273 10,098
4 Georgia 1:355 11,461
5 Utah 1:373 2,553
6 Florida 1:396 22,377
7 Michigan 1:417 10,894
8 Idaho 1:417 1,552
9 Illinois 1:498 10,627
10 Wisconsin 1:571 4,534
Tuesday
July 1st, 2025
7:54AM
