Foreclosure filings in Wake surged in May

Foreclosure filings in the Triangle continue to outpace last year's levels as the state's high unemployment rate pushes more homeowners into trouble.

Filings in Durham, Johnston, and Wake counties totaled 3,703 through the first five months of 2010, up 35 percent from the same period a year ago, according the N.C. Administrative Office of the Courts monthly report.

In Wake County, there were 462 filings in May, up 62 percent from May 2009. Filings in Wake through the first five months of the year are 40 percent higher than the same period last year.

Durham recorded 152 filings in May, up 30 percent from May 2009. Through the first five months of the year filings in Durham are 41 percent higher than the same period last year.

Johnston filings in May totaled 85, down 35 percent from May of last year. Through the first five months of the year, Johnston filings are less than 3 percent ahead of last year's pace.

Filings mark the start of the foreclosure process. Some homeowners will work out repayment plans. Others will lose their homes.