Foreclosures Continue to Increase: 12/10/2009
November's foreclosure flings surpassed 300,000. The unemployment rate reached 10 percent, and is expected to continue to increase until the first quarter of 2010.
Defaults
Last month 306,627 properties received defaults or auction notice or were bank seized, which is one in every 417 household in the U.S. RealtyTrac predicts the numbers will be similar for the month of December. During the months of January thru November, there have been 3.6 million foreclosure filings.
In Nevada, one in every 119 household received a filing during November, which is the highest foreclosure rate for the 35th month in a row.
One in every 165 households in the state of Florida received filings, which is the second highest foreclosure rate. According to RealtyTrac, California had one in every 180 households receive a filing.
Arizona, Idaho, Michigan, Illinois, Utah, Maryland and New Jersey were among the top ten for foreclosure filings.
If you find yourself behind on your mortgage payments or are in foreclosure, you do have options.
The worst option you can choose is to do nothing, You can start by contacting your loan company, a local Realtor ®, or a Real Estate Attorney.
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