Home loss threat rises

Foreclosures rose more in the Seattle area than nationwide in June, although the area's foreclosure rate remained far lower, according to a new report.

The number of properties with filings in the area, defined as King and Snohomish counties, was up 52 percent in June from a year earlier and 7 percent from May, according to RealtyTrac, an Irvine, Calif., company that tracks foreclosures.

The area's rate of one filing for every 1,174 households put it 145th out of 230 areas RealtyTrac ranks.

Statewide foreclosures were up 68.6 percent from a year earlier and 9.8 percent from May. Washington's rate of one filing for every 984 households put it 22nd among states. U.S. foreclosures were up 53 percent from a year earlier and down 3 percent from May, with one in every 501 households receiving a filing.

"June was the second straight month with more than a quarter-million properties nationwide receiving foreclosure filings," James Saccacio, RealtyTrac's chief executive, said in a statement accompanying the data. "Foreclosure activity slipped 3 percent lower from the previous month, but the year-over-year increase of more than 50 percent indicates we have not yet reached the top of this foreclosure cycle."

The Stockton, Calif., area had the nation's highest rate, with one in every 72 households receiving a filing in June, followed by Merced, Calif., at one in 77 households, and Modesto, Calif., with one in 86. Seven of the top 10 areas were in California, two are in Florida and one was Las Vegas.

Nevada continued to have the nation's highest foreclosure rate, with one in 122 households receiving a filing in June, followed by California (one in every 192 properties) and Arizona (one in every 201).