Posted on 10/16/2015 8:36:32 AM PDT by SeekAndFind
The housing market may not be the bright spot of the recovery, especially as more people are starting to lose their homes.
According to the real-estate information company RealtyTrac, foreclosures rose in the third quarter from this time last year, and many states are seeing significant increases.
"The widespread rise in foreclosure activity in the third quarter compared to a year ago is the result of two starkly different trends taking place," Daren Blomquist, vice president at RealtyTrac, said in the report. "In states such as New Jersey, Massachusetts, and New York, a flood of deferred distress from the last housing crisis is finally spilling over the legislative and legal dams that have held back some foreclosure activity for years."
Thirty-three states had year-over-year increases in foreclosure activity, and the country registered a 3% increase as a whole.
Bank repossessions, one of the better-known types of foreclosure activity, increased 66% in the third quarter from the same time period in 2014, with a total of 123,040 properties seized.
RealtyTrac also included a breakdown of each state's foreclosure information. We've compiled the 12 states with higher foreclosure rates than the national average, which was one house out of every 407. Each state also includes the change in foreclosure activity from the third quarter last year and the total number of properties involved in foreclosure.
Check it out below from lowest foreclosure rate to highest.
(Excerpt) Read more at businessinsider.com ...
THE TOP 3:
1. New Jersey
Foreclosure rate: 1 in 171
Total Properties with Foreclosure Filings: 20,812
Year-over-year Foreclosure Change: 27.36%
______________________________
2. Florida
Foreclosure rate: 1 in 186
Total Properties with Foreclosure Filings: 48,462
Year-over-year Foreclosure Change: -17.28%
_______________________________
3. Nevada
Total Properties with Foreclosure Filings: 6,066
Year-over-year Foreclosure Change: 13.15%
All is well.
Now back to our regularly scheduled programming.
Either Mother Government needs to print more money, or some mush-for-brains Dem politician better start pimping, ‘Mortgage Forgiveness’ to garner some votes!
I have owned four homes through the years and was never late ONCE on a payment. Always made a profit and rolled that into a better home for myself and my family. What a sap I’ve been, playing by the RULES all of these years.
Grrrrrrr!
A pox on them all! *SPIT*
Finally, New Jersey is number one at something.
$10,000 per year property taxes on 1,200 square feet has its consequences.
However, Nevada breath a sigh of relief temporarily.
You can retire to Nevada. Housing cheap, newer, property taxes reasonable and no snow.
In other words, the bandaid is falling off the cut in the artery. Is this the first stages of a new hemorrhage that will lead to an economic bleed out, especially if the economy tanks as some are now suggesting?
But Obama said everthing is o.k! Redistribution of wealth going foward as planned...
I would assume some of the oil fraccing areas will show up on this list in the future.
Nevada at #3 doesn’t surprise me, I knew it would be high. In the past five years, of the fourteen properties on my street, three have been foreclosed.
They did the same thing over again .
They handed out home loans again to people who could not pay for them instead of section 8 housing .
I got an idea. Let’s just get this over with now.
The Democrats just need to propose that the poor (those who only have 99 cable TV channels) get everything free if Hillary is elected. They will never have to pay for anything ever again!
Mother government will now require those evil rich people (those who have a whopping 110 cable TV channels!!!) to fund everything for the poor as part of the new living wages, income redistribution plan, fairness for all plan!
With New Jersey, I would bet it has a lot to do with superstorm Sandy and the beach communities. A lot of foreclosures because they were 2nd homes and not eligible for aid and they had to raise houses to newly created height guidelines or pay astronomical flood ins. rates. A lot of people tried selling houses ‘as is’ or just walked away from them and their existing mortgages.
You realize “The evil rich people” will be anybody making over $40,000?
You one of those rich people, aren’t you! Does Lois Lerner know about you?
Exactly!...ridiculous socialist bullshit!
FWIW, where I am a high percentage of the houses at or near foreclosure have found new owners. The prices have gone up a bit, so there's been turnover. If this is typical, it's not all bad.
Us too. I know someone who has almost lost her home, which she can’t afford, twice. She recently told me that Keep Your Home California bailed her out and sent her lender $92,000 dollars. $92,000 freaking dollars!!!
On a home she could afford when she bought it but in the heyday borrowed $100,000 against it.
RE: Homeowners in a squeeze aren’t keeping up on repairs,
I am NOT surprised at NJ being #1.
Their property taxes are in the FIVE DIGITS.
So, add THAT ( the five digit property tax ) to your home repairs, maintenance.
An acquaintance who is a realtor in Texas said there are thousands of homes in our area which have not been released by the bank as foreclosures because they don’t want to “shock” the market so release them one at a time and only when there is a sale. He also said that some banks are letting people remain in homes for longer period of time without making payments than ever before so the whole market doesn’t crash.
Going to all come tumbling down one of these days.
Aw, Jeeze! Don’t give them any MORE ideas, LOL! :)
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