New Math on Foreclosure Filings?

What is believable on reported information about home foreclosures?
Nationwide during 2007, RealtyTrac counted 2.2 million foreclosure filings of any stripe (notice of default, warning of auction, bank repossession, etc.) that were made on 1.3 million properties.
California? 481,000 filings in 2007 on 249,500 homes.
And in the O.C.? 23,002 filings during 2007 on 12,501 places.
In fact, only 405,000 U.S. homes were repossessed in 2007 (RealtyTrac). That's a small number relative to number of owned homes in the United States.
Posted by Harrison K. Long, Explore Properties Group, Feb. 28, 2008
[source: RealtyTrac.com; Orange County Register]