Foreclosures Continue to Thrive as Moratoriums are Phased Out

As reported my CNNMoney.com - "Foreclosure plague: No cure yet":

Despite some positive signs starting to surface in select housing markets, foreclosures are still on the rise:

There were more than 360,000 properties with foreclosure filings -- including default notices, scheduled auctions and bank repossessions -- an increase of 7% from June and 32% from July 2008, according to RealtyTrac, an online marketer of foreclosed homes. In fact, one in every 355 U.S. homes had at least one filing during July.

Nevada, California, Arizona, and Florida continue to lead the nation in foreclosures as some foreclosure moratoriums are phased out:

The worst hit areas continue to be in the "sand states," with California posting the highest number of total filings, 108,104, and Nevada posting the highest rate of foreclosure at one for every 56 homes.

The other hardest hit states are Arizona, at one filing for every 135 homes, and Florida, at one for every 154. Las Vegas, with one for every 47 homes, had the highest rate among metro areas. That's Sin City's 31st consecutive month topping the list.

The real estate shakeout continues ...