Indianapolis Is Nation's Home Loan Foreclosure Capital.(Indianapolis, Atlanta, Dallas, Memphis and Denver)

IRVINE, CA -- Indianapolis, Atlanta, Dallas, Memphis and Denver top the list of the nation's 10 highest metropolitan foreclosure rates, according to RealtyTrac's first annual 2006 U.S. Metropolitan Foreclosure Market Report, which ranks the foreclosure rates of the top 100 metropolitan areas. Cities in the Sun Belt and Rust Belt generally had the highest foreclosure rates in the first quarter of 2006, while cities in the Northeast and Gulf Coast documented some of the lowest.

RealtyTrac publishes the largest national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties in more than 2,500 counties across the country. The RealtyTrac 2006 U.S. Metropolitan Foreclosure Market Report provides the total number of properties entering some stage of foreclosure in each of the nation's 100 largest metropolitan statistical areas.

RealtyTrac's report includes properties in all three phases of foreclosure: pre-foreclosures - notice of default and lis pendens, foreclosures - notice of trustee sale and notice of foreclosure sale, and real estate-owned properties.

"Indianapolis narrowly edged out Atlanta as the city with the highest foreclosure rate in Q1," said James Saccacio, CEO of RealtyTrac. "Most of the cities with the highest foreclosure rates have above-average unemployment rates and below-average home price appreciation. Unemployment is a major reason why homeowners stop making mortgage payments, and slow home price appreciation can make it harder for homeowners in default to refinance or sell to stop foreclosure."

According to Mr. Saccacio, other economic factors such as decreasing affordability, rising interest rates and speculative buying could also fuel foreclosures. He cited Jacksonville, Fla., and Las ...