The pattern of notices,rnhowever, continues to show an overall improvement in that fewer houses arernmoving into the foreclosure process while more are being cleared out through arncompletion of that process.  </p

Notices of Default  were received by 97,123 properties, an increase of 1 percent over June,rnbut 28 percent lower than one year earlier. rnThe figure is also 32 percent lower than the peak month of April 2009.</p

Auctions were scheduled forrnthe first time on 135,248 properties nationwide.  This is up 2 percent from June and down 2rnpercent from July 2009.  This categoryrnpeaked in March 2010 with 158,105 initial auction notices.</p

Actual foreclosures andrnrepossessions were completed on 92,858 properties, up 9 percent from June and 6rnpercent year-over-year.  Properties takenrninto owned real estate inventories were at the second highest level sincernRealtyTrac began keeping data in 2005. rnThe most active month was this past May when 93,777 properties werernforeclosed.</p

This data is representative of banks clearing out their huge backlogs ofrndelinquent loans that have been languishing in modification programs.  The HAMP program jointly administered by thernDepartments of Treasury and Housing and Urban Development, for example, hasrnstepped up pressure on mortgage servicers to do something about the largernnumber of borrowers who were stuck in the HAMP trial modification phase. Asrnservicers responded, stepping up the pace of its decisions, The Obama'srnadministration Housing Scorecard issued in late July reported that 60 percentrnof the trial modifications cancelled the previous month had been in trialrnstatus for at least six months.   </p

RealtyTrac chief executivernofficer James J. Saccacio said “July marked the 17^{th</supconsecutive month with a foreclosure activity total exceeding 300,000.  Declines in new default notices, which wererndown on a year-over-year basis for the sixth straight month in July have beenrnoffset by near record levels of bank repossessions, which increased on arnyear-over-year basis for the eighth straight month,"</p}

As usual, Nevada, Arizona,rnand Florida topped the list of states with foreclosure activity lastrnmonth.  In Nevada, one in every 82rnhousing units received a foreclosure filing in July.  This was up nearly 7 percent from June, butrnwas down 30 percent from a year earlier, the 10^th straight monthrnwhen the year-over-year rate dropped.</p

In Arizona there were arntotal of 16,298 filings in July or one in every 167 homes compared to 14,424rnfilings or one in every 189 homes in June, rn Virtually every one of thernfilings both months  however, were eitherrnnotices of auction or actual foreclosures. rnOnly 8 notices of default were recorded in June and 14 in July.</p

In Florida there werernfilings on one in every 171 housing units, the same as the previous month.   The actual total filings during the twornmonths were also virtually identical – 51,550 in June, 51,557 in July.  </p

California, with one inrnevery 200 homes and Idaho with one in 240 homes receiving filings round out therntop five states.  Other states with highrnrates are Michigan (1 in 241); Utah (1 in 242); Illinois (1 in 269); Georgia (1rnin 320) and Maryland (1 in 335).</p

While it is a nationalrnproblem, the bulk of foreclosures are still concentrated in a few states, fivernof which account for 50 percent of all filings nationwide.  California accounts for 21 percent of allrnfilings and Florida 16 percent.  Thernother three states which the largest number of filings are Illinois, Michigan,rnand Arizona. </p

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