Six states still lead in the U.S. for highest amount of foreclosures, even foreclosure filings decreased in January. Across the nation, real estate owned (REO) was down 5 percent this January compared to last December, but up 31 percent from a year ago. Nevada, Arizona and California were in the top 3, following were Florida, Utah and Texas.
Nevada revealed its lead for the 37th month in foreclosure filings last month. More than 4 times the national average, 1 in every 95 Nevada homeowners and borrowers filed. Another warm, dry state, Arizona, suffered 1 in every 129 housing units filing for foreclosure.
California and Florida are similar when their rates are compared for third and fourth place on the list. California was slightly higher by small margin, but both revealed an average of 1 in every 187 home filings.
Utah faired slightly better than the above mentioned states with 1 every 237 housing units under foreclosure, but that still leaves them fifth highest in the country, despite an almost 12 percent decrease. Texas ranked sixth highest, with a total of 12,225 properties receiving a foreclosure filing.
“January foreclosure numbers are exhibiting a pattern very similar to a year ago: a double-digit percentage jump in December foreclosure activity followed by a 10 percent drop in January,” said James J. Saccacio, chief executive officer of RealtyTrac “If history repeats itself we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs or the new short sale and deed-in-lieu of foreclosure alternatives works.”
The entire nation suffered from 315,716 total filings in January 2010. In last place, meaning their state faired best, was South Dakota, ranked number 50. Other states at the bottom of the list include Vermont and West Virginia.
Source: Realtrac
Written by Amy Munday
Huliq.com
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