Arizona has broken Nevada's 62-month streak as the foreclosure capital of the nation.
The state's foreclosure rate in March actually dropped, but Nevada's dropped more. California kept its third-place ranking.
Data released Thursday by foreclosure tracking firm RealtyTrac shows banks actually repossessed nearly 3,600 Arizona homes last month. More than 5,900 homeowners received a notice of default, the first step in the foreclosure process. In all, that's a 40 percent drop in foreclosure activity.
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