U.S. home foreclosure filings rose 14 percent in the second quarter, the eighth consecutive quarterly climb, and more than doubled from the same period a year-earlier, real estate data firm RealtyTrac said on Friday.

Home foreclosure filings during the second quarter were reported on 739,714 U.S. properties, up 121 percent from a year earlier, RealtyTrac, an online market of foreclosure properties, said in a report.

The figure is a total of default notices, auction sale notices and bank repossessions between April and June.

"Although much of the fallout from foreclosures is being driven by rampant activity in a few states, such as Nevada, California, Florida, Ohio, Arizona and Michigan, most areas of the country are seeing at least some increase in foreclosure activity," James J. Saccacio, chief executive officer of RealtyTrac, said in a statement.

Indeed, 48 of 50 states and 95 out of the nation's 100 largest metro areas experienced year-over-year increases in foreclosure activity in the second quarter, he said.

The surge in foreclosures indicates an increasing number of homeowners are struggling to make mortgage payments amid the worst U.S. housing market downturn since the Great Depression.

RealtyTrac, based in Irvine, California, said the national foreclosure rate in the second quarter was one foreclosure filing for every 171 U.S. households.

Properties that have been foreclosed on or repurchased by a bank accounted for 30 percent of total foreclosure activity in the quarter, up from 24 percent in the first quarter, Saccacio said.

"This shift in the distribution of activity indicates that there is a progression toward purging the problem loans out of the system -- at which point the housing market can regain some sense of normalcy. Of course, if another surge in defaults occurs, which could well happen later this year, it would refill the foreclosure pipeline and prolong the recovery," he said.

Nevada had the highest foreclosure rate in the country, with one foreclosure filing for every 43 households, followed by California and Arizona.

All three states had been among the hottest U.S. housing markets during the boom years from 2000 to 2005.

Default rates and foreclosures have jumped as the housing market deteriorated.

As interest rates on adjustable rate mortgages reset higher, many homeowners who have been unable to sell their homes or refinance existing home loans amid a drop in home prices have been forced into foreclosure.

Nevada had 24,657 foreclosure filings in the second quarter, up nearly 26 percent from the previous quarter and up 147 percent from the second quarter of 2007.

California foreclosure activity in the second quarter increased 19 percent from the previous quarter.

One in every 65 California households received a foreclosure filing during the quarter.

California, the most populous U.S. state, reported 202,599 foreclosure filings, the most of any state and up 198 percent from the second quarter of 2007.

Arizona had one foreclosure filing for every 70 households in the second quarter, with 37,230 filings, up nearly 36 percent from the previous quarter and 272 percent higher than the second quarter of 2007, RealtyTrac said.

Florida ranked fourth with one foreclosure filing for every 78 households in the second quarter, with 109,433 filings, up nearly 25 percent from the previous quarter and 182 percent higher than the second quarter of 2007, RealtyTrac said.

 This is to be expected, for the last 5 or 6 years houses were being over priced way beyond there true value.

It's unrealistic to think that a house that is worth 50k and climbs to 250k in value will sustain that price increase very long.

The unfortunate part is that many people bought houses on hype that the values will increase forever, and second those that bought houses at there true value used them as ATM's and never considered the consequeces of there actions.

Now couple this with the unemployment rates rising and you have a recession.

The fall out in the housing market is not a bad thing to happen to us, people now will start to live within there means and the future growth of this country will be based on realistic expections.

Now hopefully people will stick to Las Vegas and horse tracks to gamble instead of gambling on there homes. 

I totally agree.  Homes should not be purchased to make money without having controls in place to mitigate the risks.  I never expect to make money on my house, but I do plan on living in it and paying the mortgage payments.  Gambling on the largest purchase in life is not a good thing to do obviously.

If,you really care to see what foreclosures has really done for the economy. Then set your sights on Buffalo,NY. ,where,the banks,close your home,throw you out on the streets,board up your house,and leave it for the neighborhood;to destroy! I kid you not, not only do they not take possesseion of the home,but leave for the neighborhood;to turn it in to crack houses ! Drug houses,and then when its a total dump,they tell the public,they never took title,and the original home owners are still the responsible party to fix it up!. Like I said,this is what the banks in Buffalo,NY has done in forclosures;for the good of all people !!! Hurrah Hurrah for the government. This is what it means,when the jobs go over-seas!!!! Maybe,McCain can get us out out of this mess,Bush helped to put us into!

The  housing market has been in trouble for far too long....the banks have had, and continue, to have too much money....The only way for them to make money is to loan money....they tried to make it easier for everyone to get a loan, thus make more money....they did not look far enough ahead and now have reaped the rewards of being too greedy....unforunately, it has hurt the entire country to the extent that we may never recover in our lifetime....

 people who are buying up these foreclosures, in hope of fixing them up and flipping them for a profit, are in for a big surprise

Thanks for the info.

I sure hope they know more of what they are doing then some people

But  I did sell my house in 6 months.

ON A PERSONAL NOTE THINK HOW MANY PEOPLE ARE INVOLVED IN THESE FORECLOSURES.  THE CHILDREN HAVE TO LEAVE THEIR FRIENDS AND START NEW SCHOOLS IN A FEW DAYS.  MY HEART GOES OUT TO ALL OF THEM.  BECAUSE OF THE MISTAKES MADE THEY HAVE TO CHANGE THEIR LIVES.  THEIR HOMES ARE GONE AND HOPEFULLY THEIR PARENTS CAN FIND SOMEWHERE NEW FOR THEM TO LIVE.  THESE CHILDREN NEED SCHOOL SUPPLIES AND CLOTHES AND SHOES AND ON AND ON.  SOME OF THEM MAY BE WITH GRANDPARENTS OR AUNTS AND UNCLES BUT I'M SURE THERE ARE MANY FAMILIES THAT HAVE HAD TO GO TO SHELTERS AND TRY TO GET HELP AND START AGAIN.  WE HAVE ONE COMMUNITY HERE IN CLEVELAND THAT NEEDED HELP AND CHANNEL 5 SET UP A TRAILER AND ASKED EVERYONE TO BRING SCHOOL SUPPLIES FOR THE CHILDREN.  THEY ENDED UP HAVING A LOT DONATED AND IT REALLY HELPED THE CHILDREN.