Banks have stepped up their actions against homeowners who have fallen behind on their mortgage payments, setting the stage for a fresh wave of foreclosures.
The number of U.S. homes that received an initial default notice jumped 33 percent to 78,880 in August from July, the biggest monthly gain in four years.
California saw a 55 percent increase in homes receiving a default notice last month, while in Indiana they climbed 46 percent. In New Jersey, default notice increased 42 percent. Nevada still leads the nation, with one in every 118 households receiving a foreclosure-related notice last month.
Rounding out the top 10 states with the highest foreclosure rate in August are California, Arizona, Georgia, Idaho, Michigan, Florida, Illinois, Colorado and Utah.
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