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Ranking the Top Ten States for Foreclosures
Foreclosures and short sales still seem to dominate most real estate markets in the country. Foreclosure filings -defined as a default notice, auction sale notice or bank repossessions were up 1 percent in January from the previous month. That means one in every 497 housing units received a foreclosure filing during the month. The diminishing numbers may seem like good news but there is some indication that lenders are inundated with paperwork and legal issues, slowing the process. We will probably see foreclosure notices increase in the near future. Follow this link for a full report on foreclosure activity. Our Top Ten states with the highest foreclosure rates. 10. Colorado- one in every 438 households 09. Florida- one in every 409 households 08. Illinois- one in every 402 households 07. Georgia- one in every 318 households 06. Michigan- one in every 272 households 05. Utah- one in every 265 households 04. Idaho- one in every 241 households 03. California- one in every 200 households 02. Arizona- one in every 175 households 01. Nevada- one in every 93 households Remarkable numbers that most of us never thought we would see. ... more
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