LYCOS RETRIEVER 
Foreclosures: States
built 176 days ago
Foreclosures continue to swell in Arizona, flooding the market with excess inventory, earning the state an unwanted spot in the nation’s top ten list for foreclosures. According to Realtytrac(R), Arizona ranked eighth in the nation among states with the […]
Source:
The suit alleges that MERS, which handles 40% of the foreclosures in the seven-county metropolitan area, violates Minnesota law by expediting foreclosures without following mandatory procedures. Some states require mortgage lenders to file a lawsuit before they can foreclose. In Minnesota, lenders have an alternative that is often called 'foreclosure by advertisement' because it allows a party to foreclose after publishing a notice of foreclosure in the newspaper. For lenders, it is faster, easier, and less expensive than going to court. However, the law requires the foreclosing party to meet certain basic requirements before forcing homeowners out of the home.
Source:
Ohio and California continued to rank among the five states reporting the most new foreclosures. Ohio reported 4,700 properties entering some stage of foreclosure in October -- a 19 percent decrease from the previous month. But with one foreclosure for every 1,018 households, the state's foreclosure rate was still 1.4 times the national average. California's foreclosure rate continued to register well below the national average, with one foreclosure for every 2,610 households. The state reported a total of 4,679 properties entering some stage of foreclosure, a 6.3 percent decline from the previous month.
Source:
Texas reported the most first-quarter foreclosures of any state, with 40,236, and Florida reported the second most with 29,636. California was a close third with 29,537 properties entering some stage of foreclosure in the first quarter of 2006, but the state's quarterly foreclosure rate of one foreclosure for every 414 households was below the national average.
Source:
SAN FRANCISCO, Sept. 17 /PRNewswire/ -- Property foreclosures are at record levels across the United States. In some areas, they're up 1,000% over last year. The owners of tens of thousands more properties face imminent default as they struggle to cope with overextended mortgages, flat appreciation rates, languishing sales, and other economic woes.
Source:
The rise in foreclosures was widespread, with 45 out of the 50 states reporting higher levels than last year. But the highest concentrations were a handful of housing markets; California Arizona, Florida, Nevada, Ohio, Texas and Michigan made up more than half of the total.
Source:
MORE ABOUT
States