Foreclosures up 53 percent

Foreclosures jumped 53 percent in June from a year earlier, a report published by a California research firm revealed on Thursday.

RealtyTrac, which claims to have the largest database of foreclosures in the country said there were more than 252,000 properties reported in foreclosure across the U.S last month, up from 166,000 foreclosures over the same time last year.

"June was the second straight month with more than a quarter-million properties nationwide receiving foreclosure filings," said James J. Saccacio, chief executive officer of RealtyTrac.

The figure however doesn't tell the whole story with filings down 3 percent from May. According to Rick Sharga, a spokesman for RealtyTrac, the decline could be largely attributed to the action of states, including Maryland and Massachusetts that have suspended foreclosures.

Foreclosure filings increased from a year earlier in all but 11 states with Arizona, California, Florida, Michigan and Nevada with the highest foreclosure rates.