Archive for April, 2007
Ohio: 8th Highest Foreclosures Rate in Q1
Monday, April 30th, 2007For the first quarter of 2007, Ohio has recorded 24,204 foreclosures filings, making it the 8th state with the highest foreclosures rate. With 1 out of 198 homes entering some stage of foreclosure, the state scrambles for ways to help local residents with their mortgage troubles. For the mean time, Ohio foreclosures rate is showing no signs of slowing down as more subprime adjustable rate loans reset this year.
North Dakota Foreclosures Rate Ranks 47th
Friday, April 27th, 2007North Dakota came in at the 47th position among the states with the highest foreclosures rate. The number of foreclosure cases filed during the first quarter of 2007 reached 70, a slight increase from the same period last year. Although the number of North Dakota foreclosures is low, the state braces for the high possibility of more homes foreclosing especially with the many adjustable rate mortgages scheduled to reset this year.
North Carolina Acts to Fight Foreclosure
Thursday, April 26th, 2007Currently having the 18th highest foreclosures rate in the United States, North Carolina already has 9,563 homes in some stage of foreclosure for the first quarter of 2007. With 1 out of 368 homes in foreclosures, it is not surprising that many financial experts are urging local officials to stop the increase of North Carolina foreclosures rate.
Q1 2007 New York Foreclosures: Fewer than 2006
Wednesday, April 25th, 2007For the first quarter of 2007, New York foreclosure filings have reached 13,411 homes. Surprisingly, the number of foreclosed homes is slightly fewer than what was reported in 2006 during the same time. To date, New York foreclosures rate places the state at the 23rd place among the states with the most number of foreclosure filings. Nationwide, the total number of homes that entered some stage of foreclosure is 430,000.
New Mexico Foreclosures Down In March
Tuesday, April 24th, 2007Compared to February, New Mexico foreclosures rate plummets by 32.08 percent. There were only 326 foreclosure filings in March, roughly 1 one out of 2,394 homes. This currently places New Mexico at the 24th position with foreclosure filings reaching a total of 1,338 properties to date.
New Jersey: 4,780 Foreclosures in March
Sunday, April 22nd, 2007Considered to be one of the states with the highest foreclosures rates, New Jersey foreclosures filings reached 4,780 homes this March. There were 3,784 Notice of Defaults, 725 Notice of Foreclosure Sale, 1 Lis Pendens and 270 Real Estate Owned. The number of New Jersey foreclosures filings was fewer than February’s but 28.91 percent more compared to the same period last year.
March 2007: 115 Foreclosure Filings for New Hampshire
Thursday, April 19th, 2007Last month, there were 115 foreclosure filings in New Hampshire. They included defaults, auctions and real estate-owned properties. In 2006, the number of New Hampshire foreclosures has already doubled, causing much alarm. Experts are looking at subprime loans as the culprit for the disturbing activity and warn the New Hampshire residents to expect the worse.
Nevada Leads Nation with Most Foreclosures
Wednesday, April 18th, 2007As of March 2007, Nevada foreclosures rate is up by 29.42 percent from the previous month and 219 .92 percent from last year, with 4,738 filings recorded for this month alone. This translates to about one out of every 183 homes entering some stage of foreclosure. With the many Nevada foreclosures, real estate experts are worried that the accelerating foreclosure activity would eventually impact the nation’s economy.
Nebraska Foreclosures Rate Soars
Tuesday, April 17th, 2007According to a house foreclosures report, Nebraska foreclosures rate has already increased by 144 percent since March 2006. Currently, the state has the 25th highest foreclosure homes rate with one out of every 2,013 homes entering some stage of foreclosure.
Massachusetts Foreclosures Rate: Record High in 2006
Monday, April 16th, 2007In 1991, there was a recorded 17,000 Massachusetts foreclosure filings, setting a record high for the state. But as 2006 ended, a new record was set. About 19,487 foreclosure cases were filed by lenders against homeowners who failed to fulfill mortgage payment obligations. A research conducted by the Federal Reserve Bank of Boston showed that the increase in Massachusetts foreclosures rate can be blamed to bad credit mortgage loans or subprime loans.
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