National Foreclosures Increase 24 Percent
According to a national foreclosure tracking service, foreclosures increased 24 percent from one month earlier and 53 percent from a year earlier. Colorado, Nevada, and Florida posted the highest state wide rates.
The five states with the most new foreclosure filings -- Florida, Texas, California, Ohio and Illinois -- accounted for 50 percent of the nation's foreclosure activity in August. Other states reporting foreclosure rates among the nation's 10 highest were Georgia, Texas, Michigan, Ohio, Illinois, Indiana and Utah.
Highest metro foreclosure rates in Colorado, Florida and Louisiana
Greely, Colo., posted the highest foreclosure rate among the nation's 252 largest metropolitan areas, with one new foreclosure filing for every 136 households -- more than seven times the national average. The Greely metro area comprises one county, Weld, which reported 488 properties entering some stage of foreclosure, a 39 percent increase from the previous month.
With one new foreclosure for every 166 households, Baton Rouge, La., documented the nation's second highest metro foreclosure rate. Of the four parishes that are in the metro area, East Baton Rouge Parish reported the majority of foreclosure activity, with 1,507 properties entering some stage of foreclosure during the month. That represented an increase of more than 2,500 percent from the previous month, when only 56 new foreclosure filings were reported.
A foreclosure moratorium imposed by the Department of Housing and Urban Development for homeowners affected by the hurricanes of last year ended Aug. 31, contributing to the sharp rise in foreclosure activity in Baton Rouge and Louisiana as a whole.
Fort Lauderdale, Fla., documented the nation's third highest metro foreclosure rate -- one new foreclosure filing for every 174 households. Broward County reported 4,263 properties entering some stage of foreclosure, an increase of more than 160 percent from the previous month.
Foreclosure rates in Miami and Denver also registered among the top five metro foreclosure rates. Miami reported 4,362 properties entering some stage of foreclosure -- one new foreclosure filing for every 195 households -- and Denver reported 4,506 properties entering some stage of foreclosure -- one new foreclosure filing for every 196 households.
Source: National Realty News
The five states with the most new foreclosure filings -- Florida, Texas, California, Ohio and Illinois -- accounted for 50 percent of the nation's foreclosure activity in August. Other states reporting foreclosure rates among the nation's 10 highest were Georgia, Texas, Michigan, Ohio, Illinois, Indiana and Utah.
Highest metro foreclosure rates in Colorado, Florida and Louisiana
Greely, Colo., posted the highest foreclosure rate among the nation's 252 largest metropolitan areas, with one new foreclosure filing for every 136 households -- more than seven times the national average. The Greely metro area comprises one county, Weld, which reported 488 properties entering some stage of foreclosure, a 39 percent increase from the previous month.
With one new foreclosure for every 166 households, Baton Rouge, La., documented the nation's second highest metro foreclosure rate. Of the four parishes that are in the metro area, East Baton Rouge Parish reported the majority of foreclosure activity, with 1,507 properties entering some stage of foreclosure during the month. That represented an increase of more than 2,500 percent from the previous month, when only 56 new foreclosure filings were reported.
A foreclosure moratorium imposed by the Department of Housing and Urban Development for homeowners affected by the hurricanes of last year ended Aug. 31, contributing to the sharp rise in foreclosure activity in Baton Rouge and Louisiana as a whole.
Fort Lauderdale, Fla., documented the nation's third highest metro foreclosure rate -- one new foreclosure filing for every 174 households. Broward County reported 4,263 properties entering some stage of foreclosure, an increase of more than 160 percent from the previous month.
Foreclosure rates in Miami and Denver also registered among the top five metro foreclosure rates. Miami reported 4,362 properties entering some stage of foreclosure -- one new foreclosure filing for every 195 households -- and Denver reported 4,506 properties entering some stage of foreclosure -- one new foreclosure filing for every 196 households.
Source: National Realty News
posted by Will @ 9:58 AM
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