Skip to: Content
Skip to: Site Navigation
Skip to: Search
Newser - Current News - Breaking Stories

« Back to the grid | Next story »

Foreclosures Soar; Nev. Leads Trend

Posted Jan 29, 08 12:28 PM CST in Business,  US 

(Newser) – The number of US properties in foreclosure in 2007 was 79% higher than in 2006, with about 1.3 million homes in some phase of the process, the AP reports. Nevada had the highest foreclosure rate, with 3.4% of households in foreclosure. That's 66,316 filings on 34,417 households, or a 200% jump from 2006. And late payments were more frequent late in the year, boding ill for 2008.

Michigan and Florida had the next-highest foreclosure rates. California took the booby prize for highest total number of foreclosures with 481,392 filings on 249,513 properties. "We went from a sort of buying frenzy to a foreclosure frenzy in the last two years," said a VP of the real estate tracking company that released the data.
Source: Associated Press

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Quinn: Don't Wait to Go Bankrupt

    Jan 5, 09 11:25 AM CST
    Quinn: Don't Wait to Go Bankrupt Your new year should be a “fresh start”—and if that means filing for bankruptcy, so be it, writes Jane Bryant Quinn in Newsweek. “If you're reaching the end of your rope, don't try to hold on. Save what you can,” Quinn says. Many families try to fend off bankruptcy for too long and end up losing assets that could have helped them recharge, notes a law expert.
    More »

  • Targeted in Bubble, Latinos Now Face Foreclosure Flood

    Jan 5, 09 9:35 AM CST
    Targeted in Bubble, Latinos Now Face Foreclosure Flood The US housing crisis has hit particularly hard in the Latino community, the Wall Street Journal reports, which was targeted by both lawmakers and lenders—often with subprime and other risky mortgages—during the bubble. Hispanic homeownership swelled 47% between 2000-2007, and the foreclosure crisis has hit hard for many who saw buying a home as the pinnacle of the American dream. More »

  • Foreclosed Pools a Mecca for Skateboarders

    Dec 29, 08 8:12 AM CST
    Foreclosed Pools a Mecca for Skateboarders Skateboarders in California are making the most of the mortgage crisis: they’re turning the swimming pools at foreclosed homes into skate parks. Tracking local foreclosures, one Fresno skater arrives at empty homes with a pump and buckets, drains the pools, and hops on his board, the New York Times reports. The newly-made parks are drawing people from around the world.
    More »

  • At-Risk Owners Pay Big Bucks to Mortgage Modifiers

    Dec 26, 08 10:44 AM CST
    At-Risk Owners Pay Big Bucks to Mortgage Modifiers A growing mortgage-modification industry has cropped up amid the housing bust, the Washington Post reports, charging homeowners thousands to help them negotiate better loans. The problem? Non-profit groups already offer those services gratis. “It is very frustrating to find a homeowner who has paid a for-profit company $3,000 to $5,000,” said one mortgage-servicing director, “when they could have gotten better assistance free.” More »

  • Spiritually Sound, But Many Churches Literally Bankrupt

    Dec 23, 08 12:16 PM CST
    Spiritually Sound, But Many Churches Literally Bankrupt In trying times, many turn to the church to ease anxieties, but even houses of God haven’t been spared the wrath of recession, the Wall Street Journal reports. A church building boom begun in the 1990s has left many congregations overextended, and with the economic slowdown taking a sizable bite out of donations, many are turning to Chapter 11 bankruptcy. More »

A foreclosure sign tops a sale sign outside an existing home on the market in northwest Denver in this Aug. 29, 2007 file photo. (AP Photo/David Zalubowski, file)   (Associated Press)
A home is advertised for sale at a foreclosure auction in Pasadena, Calif. in this Aug. 14, 2007 file photo. (AP Photo/Reed Saxon, file)   (Associated Press)
An auction sign rests in front of this foreclosed home in Shaker Heights, Ohio in this Tuesday, Oct. 30, 2007 file photo. (AP Photo/Tony Dejak, File)   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Related Threads

(1 of 2)

Tags

foreclosure


Loading...

Today's Most Popular

[ Stories ]

Threads

Loading...
SPONSORED NEWS ARCHIVE

FORECLOSURE ACTIVITY UP 48% FROM MAY 2007. (Worldwide Databases)

Council wants 6-month freeze on foreclosures; 3 home-rule petitions seek authority... (Telegram & Gazette (Worcester, MA))

Landmark federal housing bill nears president's desk. (Nation's Cities Weekly)

U.S. FORECLOSURES IN AUGUST MOST IN THREE YEARS.(NEWS) (The Capital Times (Madison, WI))

Foreclosure filings rise 71% (The Record (Bergen County, NJ))

Deals Await Buyers at Auction of Nearly 100 Minneapolis Foreclosures (U.S. Newswire)

Financial and Home Foreclosure Crisis Impacts Health of Men and Their Families (U.S. Newswire)

Massive Foreclosure Auction Sweeps Through Georgia, Tennessee and Alabama (U.S. Newswire)

Auction of Upscale Orlando Foreclosures Gives Buyers Pick of Dream Homes (U.S. Newswire)

Foreclosures, Falling Prices Spur Pr. William Home Sales (The Washington Post)


Other US Stories