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The rate was second to which saw a whopping rate of one foreclosure for ever 64 homesin May, according to the monthly foreclosure reporyt from Irvine-based , whic was released Thursday. Florid came close to California witha 1-in-14u foreclosure rate, followed by Arizona (one in 158) and Utah (one in Nationwide, one in everyg 398 homes received a foreclosure filinh in May, down 6 percent from Aprilp but up nearly 18 percent from May 2008.
In California, 92,249 properties were foreclosedin May, the highest tota l of any state and up nearly 23 perceny from May 2008, RealtyTrac Bank repossessions in California were down 1 percenyt from the previous month and defaults were down 18 percent the service said. Scheduled auctions were up 18 percent. In the hardest-hit metro areas were Stockton (one in 68 housingy units), Modesto (one in 71), Riverside-San Bernardino (one in 75), Mercedr (one in 78), Bakersfield (one in 94) and Vallejo-Fairfield (one in 101). Those areas were all on RealtryTrac’s top 10 worsty metro areas nationwide.
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