Foreclosure Activity up 48% from May 2007

RealtyTrac(R) (http://www.realtytrac.com/), Irvine, Calif., a leading online marketplace for foreclosure properties, has released its May 2008 U.S. Foreclosure Market Report(TM), which shows foreclosure filings -- default notices, auction sale notices and bank repossessions -- were reported on 261,255 properties during the month, a 7 percent increase from the previous month and a 48 percent increase from May 2007. The report also shows one in every 483 U.S. households received a foreclosure filing during the month, the highest monthly foreclosure rate since RealtyTrac began issuing the report in January 2005. RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal's Real Estate Journal.