Foreclosures Climb in 2007 The year ended on a dismal note as 2.2 million foreclosure filings on nearly 1.3 million properties were reported in 2007, up 75 percent from 2006, according to RealtyTrac, an online marketer of foreclosure properties. More than 1 percent of all U.S. households were in some stage of foreclosure during the year, up from 0.58 percent in 2006. Nevada, Florida and Michigan had the top annual foreclosure rates in 2007. RealtyTrac also reported that foreclosure filings for the month of December — including default notices, auction sale notices and bank repossessions — totaled 215,749, up 97 percent from December 2006. December marked the fifth straight month that foreclosure filings totaled more than 200,000. James J. Saccacio, RealtyTrac’s chief executive officer said, “While filings were up 75 percent, the number of properties in some stage of foreclosure was up 79 percent, indicating that some properties may have just entered the initial stage of foreclosure in 2007 and could be going through the rest of the foreclosure process in 2008 — unless lender and government intervention efforts begin to gain more traction.” Tue, Jan 29, 2008 Post a Comment | Return to the News Will the recent federal rate cuts and the Bush administration's proposed stimulus plan help bolster the economy? Yes No Not sure Votes:0 Recent Poll Results