Report: Missouri foreclosures in June drop 18% from May

The Show-Me State reported a 78 percent increase in foreclosure filings compared to June 2007 but did show some improvement with an 18 percent decline since May.

Missouri had 1,543 notices of default, 1,049 notices of trustee sale and 860 real estate owned properties that were foreclosed on and repurchased by a bank. That’s a total of 3,452 foreclosure filings for the month, or one in every 760 households, according to the report.

Across the country, foreclosure filings were reported on 252,363 properties in June, down 3 percent from May but up 53 percent from June 2007. One in every 501 U.S. households received a foreclosure filing during the month.

“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,” RealtyTrac CEO James J. Saccacio said in the report.

Bank repossessions, up 171 percent nationally from a year ago, continue to increase at a faster pace than default notices or auction notices, according to the report.

Nevada topped the list in June with one in every 122 households receiving a foreclosure filing, more than four times the national average. North Dakota had the lowest rate of foreclosure for the month.