Foreclosures still rising in state, region

Mortgage foreclosure filings in the state and in southeastern Wisconsin continued to rise in May, according to a new report from ForeclosuresWI.com. The state added another 1,949 foreclosures in May, bringing the number of foreclosures for the year up to 10,644, a 38-percent increase compared with the first five months of 2007. During May, the eight counties of southeastern Wisconsin (Milwaukee, Waukesha, Washington, Ozaukee, Racine, Kenosha, Walworth and Sheboygan) had 826 foreclosures, a 19.7-percent increase compared with May of 2007.

However, some counties in the area only saw a small increase in May foreclosures, and one county, Walworth, saw foreclosures decline during the month. Walworth County had 39 foreclosures in May, compared with 70 in May of 2007. Waukesha County had 68 foreclosures for the month, compared with 65 in May of 2007. Washington County had 27, compared with 26 in May of 2007. Racine County had 65, compared with 64 in May of 2007.

But foreclosures in Milwaukee County were 33-percent higher in May, compared with May of 2007. The county had 494 foreclosures for the most recent month, compared with 372 in May of 2007.Dane County has the biggest year-to-date foreclosure increase in the state, with a 68.6-percent increase. Milwaukee County foreclosures are up 40 percent year-to-date (2,709 compared to 1,932 for the first five months of 2007).

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