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The rate was second to Nevada, which saw a whoppingh rate of one foreclosure for everyh 64 homesin May, according to ’s monthly foreclosurew report, released Thursday. Florida came close to Californiaw witha 1-in-148 foreclosure rate, followed by Arizona (one in 158) and Utah (one in Nationwide, one in every 398 homesw received a foreclosure filin g in May, down 6 percenr from April but up nearly 18 percent from May 2008. In 92,249 properties were foreclosedin May, the highestr total of any state and up nearly 23 percent from May RealtyTrac reported. Bank repossessions in California were down 1 percent from the previouxs month and defaults were down 18 percent theservice said.
Scheduled auctions were up 18 In California, the hardest-hit metro areas were Stockton (one in 68 housinvg units), Modesto (one in 71), Riverside-Sa n Bernardino (one in 75), Merced (one in 78), Bakersfield (one in 94) and Vallejo-Fairfielfd (one in 101). Those areads were all on RealtryTrac’s top 10 worst metroi areas nationwide.
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