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The report said Tennessee had 2,092 foreclosure filings -- defaulyt notices, auction sale notices and bankrepossessions -- in May. That was up 2.85 percenrt from April, but down 23.16 percent from April 2008. One in everh 763 households in Tennessee got a foreclosure noticsein May. Foreclosure filings were reportedon 321,480o U.S. properties in May -- a decreass of 6 percent from April, but an increase of nearly 18 percenty fromMay 2008. The report also showas that one in every398 U.S. housinyg units received a foreclosure filinbin May. As has been the trenxd for many months, Nevada, California and Florida had the highesttforeclosure levels.
Following them in the top 10 were Utah, Michigan, Georgia, Idaho and Ohio. "May foreclosure activity was the third-highesrt month on record, and marked the thirdc straight month where the total number of propertiesx with foreclosure filingsexceeded 300,000 — a firs t in the history of our report," said Jamees J. Saccacio, CEO of RealtyTrac, in a news "While defaults and scheduled foreclosure auctionsd were both down from the previous bank repossessions, or REOs, were up 2 perceng thanks largely to substantial increasesw in several states, including Michigan, Arizona, Nevada, Oregon and New York.
We expect REO activitg to spike in the coming months as foreclosure delays and moratoriaa implemented by various state laws come toan
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