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California had the highest total number of default and foreclosures with 57,158 properties, more than double the year-earlier figure and was up 7 percent from December.

Joining the gaggle of homes in foreclosure is Michael Jackson's Neverland Ranch.

Michael’s Jackson’s Neverland Ranch property at 5225 Figueroa Mountain Road in Los Olivos is in the stages of foreclosure with a tentative auction date set for March 19 at 1 p.m. at the north door of the Santa Barbara County Courthouse, 1100 Anacapa St. in Santa Barbara. According to the notice of the trustee’s sale, Financial Title Company, San Francisco, can sell the property to the highest bidder.

Jackson, who owes $24,525,906.61 on the property, can still pay off the debt by March 19.

The auction sale would include the house, a mock-Tudor mansion, as well as everything associated with it: all personal property inside, all fixtures and appliances, furniture, and "all merry go round type devices," any rides, games. The auction literally includes every single thing that is or isn't nailed down. While, at one time, it boasted a fully-fledged fairground and zoo, the animals have reportedly been removed since Jackson left.

Other significant real estate facts revealed during February, 2008 are:

* U.S. home foreclosures jumped 90% as mortgages reset

* Bank seizures of U.S. homes almost doubled in January

* Repossessions rose 90 percent to 45,327

* Total foreclosure filings, which include default and auction notices as well as bank seizures, increased 57 percent.

* About $460 billion of adjustable mortgages are scheduled to reset this year

* About $190 billion in subprime adjustable mortgages are slated to reset this year

* More than 233,000 properties were in some stage of default last month.

* Home prices in 20 U.S. metropolitan areas fell in December by the most on record, dropped 9.1 percent from a year earlier.

* Nationwide, home prices fell 8.9 percent in the fourth quarter from a year earlier, the biggest decline in 20 years.

* Nevada, California and Florida recorded the highest foreclosure rates among the 50 states, RealtyTrac said.

* Foreclosure filings in Nevada continued to lead the nation, with 6,087 properties in default or having been repossessed, 95 percent more than in January 2007 and 45 percent less than in December.

* Florida had the second-highest number of homes in default or foreclosure with 30,178 in January, more than double the figure for the prior year and 3 percent less than in December.

* Arizona, Colorado, Massachusetts, Georgia, Connecticut, Ohio and Michigan rounded out the top 10 states worst off in terms of missed payments and property seizures

* Cape Coral-Fort Myers, Florida, had the highest January foreclosure rate among 229 metropolitan areas.

* Stockton, California, had the second highest, followed by the Riverside-San Bernardino area.

* New York was 30th with 0.06 percent of households facing possible foreclosure.

* Banks may be forced to resell as many as 1 million foreclosed properties this year

* More than 1 percent of U.S. households were in some stage of foreclosure during 2007.

* The median price of an existing home fell 4.6 percent to $201,100 from January 2007.

* The median for a single-family home dropped 5.1 percent to $198,700,

* Condominium and co-op prices fell 1 percent to $220,400.

Fannie Mae and HSBC Finance have joined a U.S. Treasury Department-led effort to offer 30-day foreclosure freezes to give delinquent borrowers more time to arrange payment plans.Citigroup Inc., JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co., Washington Mutual Inc. and Countrywide Financial Corp. have initially agreed to participate in the effort.

Data derived from published reports compiled by
-- RealtyTrac Inc., a seller of foreclosure statistics
-- MGIC Investment Co., the country's biggest mortgage insurer.