Foreclosure filings, including default notices, auction sale notices, and bank repossessions, increased 5.11 percent across the country in October, according to the latest report from RealtyTrac.
That's a 24.55 percent increase over October 2007, and represents that one out of every 452 households in the United States has been subject to some stage of the foreclosure process.
The number of foreclosures would be much higher, but for foreclosure-prevention laws recently enacted in states such as California. These new laws provide for a longer waiting period, thereby delaying when homes fall into foreclosure - and they're mostly seen as delaying the inevitable for those troubled homeowners.
Nevada ranked first in the nation yet again with the greatest level of foreclosure activity. Georgia dropped from fifth to sixth nationwide.
Last month, the number of foreclosures increased in Georgia by 6.46 percent. Still, that's 12.79 percent below the level seen last October, with only one out of every 391 homes affected by foreclosure.
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