From the category archives:
The Federal Reserve announced Tuesday that they will now be offering maps of foreclosure hotspots where sub prime mortgages have contributed to widespread foreclosure and defaults. The maps, which are available online at www.newyorkfed.org/mortgagemaps/, will display foreclosure trends by region, with the ultimate intention of helping community groups identify where they can focus their energies toward foreclosure prevention.
{ Comments on this entry are closed }
Last February, the foreclosures rate in California dropped considerably compared to last month’s records. This included a 7.6 percent drop in Notices of Default, 15 percent drop in Foreclosures at Auctions and 20 percent decrease in Notices of Trustee Sale.
{ Comments on this entry are closed }
The large inventory of California foreclosure listings is not surprising. The state actually accounted for five out of the top ten metro areas hit hardest by the subprime mortgage crisis. These include Stockton, Riverside – San Bernardino, Sacramento, Bakersfield and Oakland. In Stockton, experts recorded one filing for every 31 homes – making this the city with the worst foreclosures rate in the entire nation.
{ Comments on this entry are closed }
Despite ranking 10th in actual foreclosures, Nevada recorded the highest foreclosures rate for the sixth consecutive month in the United States. Across the nation, most states experienced a dip in foreclosures activity but this can only be due to the market leveling off because of the considerable rise last May. The number of Nevada foreclosures is still expected to rise since there is still about a billion dollars worth of mortgages with adjustable rates set to re-set in the last half of the year.
{ Comments on this entry are closed }
During the first quarter of the current year, the situation looked grim for the state of Massachusetts as it recorded record-breaking foreclosures rate. Even when local officials braced themselves for worsening conditions, the foreclosures data that came out last May was still gut-wrenching. Compared to its’ performance in April, Massachusetts foreclosures rate has actually doubled. The state now has the 11th highest foreclosures rate from its previous 18th position. Is there any end in sight?
{ Comments on this entry are closed }
When the figure for the May came in, almost everyone was shocked. Across the nation, foreclosures rate increased by almost 20 percent compared to last month’s data. There were 176,137 filings, majority of which were Notices of Default. This could only mean that many home owners still have trouble keeping up with their mortgage payments. Luckily for some states, this was not the scenario. Utah foreclosure listings rate has decreased by almost 2 percent from April and 29 percent from last year.
{ Comments on this entry are closed }
When the first quarter of 2007 ended, Ohio had the 8th highest foreclosures rate. But as more owners defaulted on their mortgages, the state now ranks 7th for the month of April. In Ohio, there was 1 out of every 640 homes in some stage of foreclosure. Buyers are definitely looking into the great investment opportunities offered by these Ohio foreclosure listings.
{ Comments on this entry are closed }
The number of California homes in some stage of foreclosure continues to rise. The state recorded a total of 80,595 foreclosure homes for the first quarter of 2007. The high foreclosures rate is still being blamed to increasing interest rates as well as predatory lending practices by aggressive lenders. With the thousands of California foreclosure listings for sale, it is nor surprising that many consider these homes as great investment opportunities.
{ Comments on this entry are closed }
The state of Michigan reported 29,467 homes entering some stage of foreclosure, for the first quarter of 2007. With a ratio of 1 out of every 143 homes, the state has the 4th highest foreclosure rate in the nation. Since there are thousands of Michigan foreclosure listings, homeowners are worried of its effect on the current housing prices.
{ Comments on this entry are closed }
In Georgia, there were 22,391 homes in some stage of foreclosure recorded from January to March of this year. With a rate of 1 out of 138 homes, Georgia has the third highest foreclosures rate in the nation. Interested buyers can search for these properties by utilizing reliable Georgia foreclosure listings.
{ Comments on this entry are closed }
You are currently browsing the archives for the Foreclosure Rates category.