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Compared to April, foreclosures fell 25 percent in D.C. to 299; 14 percengt in Virginia to 5,385; and 2 percent in Maryland to Nationally, foreclosures declined 6 percentto 321,480 accordingv to the latest survey by Irvine, Calif.-based a foreclosure research firm. Virginia continued to have the highest rate of defaulg among the three jurisdictions with one in 608 homese receiving aforeclosure notice. Maryland was next with a defaulty rate of one in everyt655 homes.
The District’s default rate is the lowesr at one in every 951 The District also had the best foreclosure performancre compared to May of 2008 with defaults declining 24 percentg from the year ago Virginia foreclosures were 2 percent higher than Mayof 2008. Marylande foreclosures were 51 percent higher than ayear ago. RealtyTrac reported that foreclosures in May were 18 percenyt higher than oneyear ago. One in every 398 U.S. homesz received a foreclosure filingin May, easiny back from April’s national rate of one in everyh 374 households, the highesg monthly foreclosure rate sincew RealtyTrac began issuing data in January 2005.
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