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While many major lenders took steps to stem the rising tide of foreclosures, RealtyTrac reported that the number of households facing foreclosure increased 30% compared to a year ago. Last month, roughly 291,000 homes received at least one foreclosure-related notice -- which is 6% higher than January.
Western states and Florida continue to lead the country in foreclosures (with Nevada, Arizona, and California leading the West), but RealtyTrac noted that states like Idaho, Illinois, and Oregon saw more foreclosures.
RealtyTrac's Vice President Rick Sharga noted that this data "doesn't bode well ... At least for the foreseeable future, it's going to continue to be pretty ugly."
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