California posts nation's largest foreclosure total in 2009

A total of 3,957,643 foreclosure filings -- default notices, scheduled foreclosure auctions and bank repossessions -- were reported on 2,824,674 U.S. properties in 2009, according to a report from Irvine's RealtyTrac Inc.

That represents a 21 percent increase in total properties from 2008 and a 120 percent increase in total properties from 2007, RealtyTrac reported. One in 45, or 2.21 percent of all U.S. housing units, received at least one foreclosure filing during the year, up from 1.84 percent in 2008, 1.03 percent in 2007 and 0.58 percent in 2006.

Foreclosure filings were reported on 349,519 U.S. properties in December, a 14 percent jump from the previous month and a 15 percent increase from December 2008, when a similar monthly jump in foreclosure activity occurred.

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- Posted: 2010-01-14 11:02:50

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