A record level of foreclosure activity in March spurred third-quarter foreclosure filings 46% higher than the same period last year.

The number of homeowners facing foreclosure surged in March as lenders lifted temporary moratoriums and resumed legal actions against delinquent mortgage holders.

Foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 341,180 properties in March, 46% more than a year ago and 17% more than February’s total.

Nationwide, nearly 804,000 homes — or one in 159 U.S. housing units — received at least one foreclosure-related notice from January through March, up from about 650,000 in the same period a year earlier.

The totals for March and the first quarter of 2009 were the highest monthly and quarterly totals recorded since RealtyTrac began issuing its report in January 2005. Foreclosure filings increased 9% from the previous quarter and nearly 24% from the first quarter of 2008.

An unstable job market and faltering economy are magnifying the housing crisis, as delinquent mortgages and foreclosure inventories continue to grow.

With details now public about which borrowers qualify for assistance, the mortgage industry has begun foreclosing on ineligible borrowers.

Nevada, Arizona, California and Florida continue to top the nation’s foreclosure rates, according to RealtyTrac’s data. In Nevada, one in every 27 homes received a foreclosure filing — more than five times the national average.  Arizona posted the nation’s second-highest state foreclosure rate for the first quarter, with one in every 54 housing units receiving a foreclosure filing. California ranked third, with one in every 58 households in foreclosure.  Illinois, Michigan, Georgia, Idaho, Utah and Oregon rounded out the top 10.

On a positive note, he added, now is a great opportunity for first-time homebuyers and investors who qualify for loans to get great bargains on bank-owned foreclosures.