Ohio: 8th Highest Foreclosures Rate in Q1

April 30th, 2007

For 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

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North Dakota Foreclosures Rate Ranks 47th

April 27th, 2007

North 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

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North Carolina Acts to Fight Foreclosure

April 26th, 2007

Currently 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 foreclosure, it is not surprising that many financial experts are urging local officials to stop the increase of North Carolina foreclosures

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Q1 2007 New York Foreclosures: Fewer than 2006

April 25th, 2007

For 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

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New Mexico Foreclosures Down In March

April 24th, 2007

Compared 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

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New Jersey: 4,780 Foreclosures in March

April 22nd, 2007

Considered 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

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March 2007: 115 Foreclosure Filings for New Hampshire

April 19th, 2007

Last 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

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Nevada Leads Nation with Most Foreclosures

April 18th, 2007

As 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

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Nebraska Foreclosures Rate Soars

April 17th, 2007

According 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

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Massachusetts Foreclosures Rate: Record High in 2006

April 16th, 2007

In 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 [...]

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Maryland Suburbs Hit with Foreclosures

April 15th, 2007

Although Maryland has one of the lowest foreclosure rates in the nation, it still did not escape consequences of reckless lending. By the end of 2006, around 45,000 Maryland foreclosures were recorded. Baltimore, a thriving suburban city, is already experiencing a considerable and continuing increase in foreclosures rate, making residents worry. The data on these Maryland foreclosures showed what experts have known all along. Majority of the [...]

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Potential Bargains with Louisiana Foreclosures

April 14th, 2007

The high foreclosure rates experienced nationwide have created an opportunity for many buyers to hunt for potential bargains. For example, Louisiana foreclosures, sold at foreclosure auctions, now attract hundreds of bidders. It is a well known fact that a foreclosure auction is the best way a person can own Louisiana foreclosure homes. But bidders face plenty of risk every time they participate in a foreclosure auction. If you are a first time [...]

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High Foreclosures Rate in Kentucky: Due to Slow Job Growth

April 13th, 2007

In 2006, the state of Kentucky was among the states with the highest foreclosure rates. One in every 57 homes entered into some stage of foreclosure, according to the Mortgage Bankers Association. The organization also believes that the slow job growth contributed to the increasing number of Kentucky foreclosures. Compared to the nation's 2 percent job growth, Kentucky only posted 1

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Kansas Foreclosures Rate: Below Nation’s Average

April 12th, 2007

Last March 2007, foreclosure filings in Kansas reached 447. Although the number of Kansas foreclosures may seem many, the state ranked 35th nationwide. In some places in Kansas, majority of the foreclosure homes resulted from divorces, illnesses or unemployment. Many homeowners are trying very hard to make mortgage payments and avoid

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Iowa Prepares for Foreclosure Increase

April 11th, 2007

It is bound to happen, according to experts. Although Iowa has a small percentage of subprime loans (2.9%), the state can expect its foreclosures rate to rise as ARMs reset this year. Many homeowners are talking things out with their lenders hoping to shift from the variable interest rate loans to fixed rate as well as considering re-financing or loan re-structuring, to avoid Iowa

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Avoiding Indiana Foreclosures

April 10th, 2007

As the nation reels from the impact of 2006's high foreclosure rate, most states are either passing new legislation or conducting studies to find a solution to their foreclosure problems. Indiana is taking control of its house foreclosure situation by creating free consumer counseling for homeowners having difficulties with their mortgage payments. Owners facing Indiana foreclosures now have a better chance of curing their mortgage

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Missouri Foreclosures Rate Lead Nation

April 9th, 2007

To date, Missouri foreclosures rate increased by almost 240% compared to last year. From 1,753 homes, the number of Missouri foreclosures increased to 5,966 for January and February of this year alone. Now, the state even has a foreclosure help center called Missouri Homeownership Preservation network to help homeowners facing foreclosure cure mortgage

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Avoiding Connecticut Foreclosures

April 4th, 2007

It is not surprising that Connecticut foreclosures rate are still on the rise. The state is using the same underwriting and mortgage approval guidelines as the other states, which are also having trouble with their growing number of foreclosure filings. This means that like the other states, many homeowners are having trouble fulfilling their mortgage obligations especially with the rising cost of living, high interest rates and re-setting

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Illinois Foreclosures Rate Skyrockets in 2006

April 3rd, 2007

It seems that Illinois was not spared when the effects of predatory lending practices and increasing interest rates swept across the nation. In 2006, Illinois foreclosures rate was 55 percent higher compared to the previous year. The considerable increase was even bigger than the 42 percent increase in foreclosure rates posted

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Washington DC Foreclosures and Real Estate Brokers

April 2nd, 2007

In Washington D.C., foreclosure rates are slightly higher than the nation's average. A healthy number of Washington foreclosures mean very good investment potential for buyers. Sellers, on the other hand, can benefit from the excellent consumer interest generated by these Washington DC foreclosures. So whether you are a buyer or a seller, you should look for a reputable real estate broker, which can provide expert

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