Foreclosures fall, but still remain high

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Nationally, foreclosure filings dropped in February, but the number of filings was still higher than a year ago, CNNMoney.com reported.

According to the latest report on foreclosure filings from RealtyTrac, an online marketer of foreclosure properties, the number of filings in February fell 4 percent from January to 130,786. February’s filings were 12 percent higher than in February 2006. James Saccacio, RealtyTrac’s CEO, said the number of filings so far this year suggests a 33 percent increase for the year in the number of foreclosure filings.

Florida had the most foreclosures of any state last month, 19,144, which was a 64 percent increase over January. Other Sun Belt states, such as Nevada, Arizona and California, also reported increases. However, the Midwest improved on the number of recent foreclosures, including Iowa, which had 5.6 percent fewer foreclosures in February than in January. However, the 594 foreclosures reported in Iowa in February were still 65 percent more than in the same month in 2006.