[SeekAndFind]

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%

[headstamp 2]

All is well.

Now back to our regularly scheduled programming.

[Diana in Wisconsin]

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*

[cicero2k]

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.

[Obadiah]

...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.

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?

[Lurkina.n.Learnin]

I would assume some of the oil fraccing areas will show up on this list in the future.

[Duchess47]

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.

[Lera]

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 .

[wattsgnu]

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.

[grania]

How does the foreclosure problem ever go away? Every month, the cost of maintenance inches up. Homeowners in a squeeze aren't keeping up on repairs, so the best deal for some is to "run out" the mortgage by living there until foreclosure.

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.

[Grams A]

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.