According to the latest report from RealtyTrac, Arizona has the third highest foreclosure rate in the country last month. One in every 135 homes in Arizona received a foreclosure notice in July.

Foreclosure filings reached 19,694 in July of 2009 which is up a whopping 17 percent from Arizona foreclosures in June of 2009 and up 47 percent from the previous year.

The Phoenix metropolitan housing market was hit extremely hard with one in every 109 homes receiving a foreclosure filing.

Nevada and California were the two states who had a higher foreclosure rate than Arizona in July. Add in Florida and those four states contributed for half of the foreclosures in the country.To see a list of current Phoenix area foreclosures and search them go here.