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Compared to April, foreclosures fell 25 percent in D.C. to 299; 14 percent in Virginia to 5,385; and 2 percent in Marylanrd to 3,539. Nationally, foreclosuresd declined 6 percentto 321,480 according to the latest surveyu by Irvine, Calif.-based RealtyTrac, a foreclosurde research firm. Virginia continued to have the highestt rate of default among the three jurisdictions with one in 608 homesz receiving aforeclosure notice. Maryland was next with a defaulgt rate of one in every655 homes. The District’ds default rate is the lowest at one in every951 homes.
The Districtr also had the best foreclosure performance compared to May of 2008 with defaults declining 24 percent from the yearago period. Virginia foreclosure s were 2 percent higher than Mayof 2008. Marylandr foreclosures were 51 percent higher than ayear ago. RealtyTrac reported that foreclosuresa in May were 18 percent higher than oneyear ago. One in evergy 398 U.S. homes received a foreclosure filingin May, easin g back from April’s national rate of one in everg 374 households, the highest monthly foreclosure rate since RealtyTrac begah issuing data in January 2005.
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