Foreclosure rates rose in the United States for the month of July, a research firm said Tuesday. Foreclosure rates rose nine percent between the months of June and July and surged 93 percent over the same period last year. Nevada, Georgia and Michigan account for the highest foreclosure rates nationwide, RealtyTrac Inc said. During July, 179,599 foreclosures filings were reported, up from 92,845 in July of last year, said RealtyTrac Inc. A total of 164,644 foreclosure filings were reported in June. “While 43 states experienced year-over-year increases in foreclosure activity, just five states-California, Florida, Michigan, Ohio and Georgia-accounted for more than half of the nation's total foreclosure filings,” said James Saccacio, RealtyTrac chief executive. The foreclosure filings include default notices, auction sale notices and bank repossessions. “The figures are the latest measure of the ailing housing market, which has seen defaults and foreclosures soar as financially strapped borrowers have failed to make payments or find buyers,” the Associated Press reported.
