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Foreclosures Keep Rising Despite Prevention Efforts

Foreclosure prevention efforts and moratoria that were in place in January and most of February do not seem to be effective in reducing foreclosures across the nation, especially in Sunbelt areas.

According to Realty Trac, the number of houses under foreclosure process has risen by 30 percent in February as compared to what it was a year ago. It has also increased 6 percent from January 2009.

A total of 290,631 properties were facing foreclosure nationwide, the report said. The states with highest foreclosure rates included Nevada, California and Arizona. Closed on the heels were Florida, Michigan, Idaho, Georgia, Illinois, Oregon and Ohio.

The states where the highest number of homes were under the process of foreclosure included California, Arizona and Florida. They were followed by Nevada, Michigan, Illinois, Ohio, Georgia, Texas and Virginia.

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