Thursday
December 18, 2014

States Where Foreclosure Rates Remain High

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States Where Foreclosure Rates Remain High

The foreclosure rate nationwide is dropping, but in certain pockets of the country, it's still high. The areas experiencing the highest foreclosure rates tend to be judicial states, which are prone to delays in the foreclosure process because foreclosures are subject to court approval. 

According to RealtyTrac’s latest foreclosure report, the following states recorded the highest activity in foreclosures in October: 

  1. Florida: foreclosures increased 22 percent from the previous month, driven mostly by a large increase in foreclosure starts.
  2. Nevada: foreclosure activity dropped 39 percent in October compared to the previous month , following a 21-month high in September. 
  3. Maryland: foreclosure activity increased 10 percent month-over-month and 201 percent year-over-year

Other states where foreclosure rates ranked among the highest in the nation: 

  • Ohio: 1 in every 525 housing units received a foreclosure filing
  • Illinois: 1 in every 552
  • Utah: 1 in every 695
  • South Carolina: 1 in every 729
  • Delaware: 1 in every 748
  • Connecticut: 1 in every 752
  • Georgia: 1 in every 897

Meanwhile, foreclosure rates were highest in the following metros: Miami, Tampa, Baltimore, and Riverside, Calif. 

Source: RealtyTrac

Read more:

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5 Foreclosure Laws You Need to Know
Foreclosure Reviews: Navigating the Upheaval