Ariz. No. 2 in foreclosure rates first half 2009

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PHOENIX -- The number of people in trouble with their mortgages continues to rise and experts think the problem will worsen through the first half of next year.


Mixed news on Arizona's housing market - While Arizona again had one of the worst foreclosure rates in the country last month, a new study out of Arizona State University shows that home prices are at or close to a market bottom.

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According to foreclosure listing service RealtyTrac Inc., more than 1.5 million households received at least one foreclosure-related notice during the first half of the year. That's a jump of nearly 15 percent.

On a state-by-state basis, Nevada had the nation's highest foreclosure rate, with one in 16 households receiving a filing.

Arizona was No. 2, with one in 30 households receiving at least one foreclosure notice, followed by Florida, California and Utah.

RealyTrac says California topped the list of total foreclosures in the first half of the year with 391,611. Florida was next with 268,064, followed by Arizona with 89,799.

(Copyright 2009 by The Associated Press. All Rights Reserved.)