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Foreclosures Were Still Rising In April
Foreclosures continued to rise around the country in April.
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MIAMI (May 13, 2009)--A new report shows the number of households faced with losing their homes to foreclosure rose 32 percent in April compared to a year earlier.
RealtyTrac says Nevada, Florida and California topped the list of states with the highest rates.
More than 342,000 households received at least one foreclosure-related notice in April.
That's one in every 375 and is the highest monthly rate since the California-based foreclosure-listing firm began its report in January 2005.
Still, the April figure is less than 1-percent worse than the number for March.
Nearly 64,000 homes were actually repossessed in April, and that's down from more than 71,000 in March.
But RealtyTrac's Rick Sharga expects the number to go up, noting that the mortgage industry is cracking down again on delinquent borrowers after a temporary halt.
Help could be on the way, though, with a massive incentive program announced by the Obama administration.
