Pamela Crowley (Florida)
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- Jan 13, 2002
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http://nationalrealtynews.com/content/templates/standard.aspx?articleid=248&zoneid=2
National Foreclosures Increase 24 Percent
Thursday, September 14, 2006
National Foreclosures Increase 24 Percent
Thursday, September 14, 2006
IRVINE, CA - RealtyTracTM released its August 2006 U.S. Foreclosure Market Report, which shows 115,292 properties nationwide entered some stage of foreclosure during the month, a 24 percent increase from the previous month and an increase of nearly 53 percent from August 2005. The report also shows a national foreclosure rate of one new foreclosure filing for every 1,003 U.S. households, the second highest monthly foreclosure rate reported year to date.
"After spiking early in the year U.S. foreclosure activity has been relatively flat over the last few months. But foreclosures ramped up significantly in August, pushing the national foreclosure rate close to its highest level of the year so far," said James J. Saccacio, chief executive officer of RealtyTrac. "And with home price appreciation continuing to decelerate and billions of dollars in adjustable rate mortgages projected to reset in the next few months, this month's increase could be the beginning of an upward shift in the foreclosures market."
Colorado, Nevada and Florida post top state foreclosure rates
Colorado foreclosure activity spiked nearly 60 percent from the previous month and the state documented the nation's highest state foreclosure rate for the sixth month in a row, with one new foreclosure filing for every 301 households. The state reported 6,079 properties entering some stage of foreclosure during the month, more than twice the number reported in August 2005 and the seventh highest number reported by any state.
Please read the whole article.Other states reporting foreclosure rates among the nation's 10 highest were Georgia, Texas, Michigan, Ohio, Illinois, Indiana and Utah.
Five states account for half of nation's foreclosure activity
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.