Bleak News About Foreclosure Rates Revealed By Recent Report
According to the RealtyTrac Year-End 2009 Foreclosure Market Report, 3,957,643 foreclosure filings were reported on 2,824,674 U.S. properties in 2009. This includes scheduled foreclosure auctions, default notices and bank repossessions.
That’s a twenty one percent increase in properties from numbers in data gathered in 2008, and a one hundred and twenty percent increase in total properties from 2007. According to the report, one in forty five housing units, 2.21 percent, got at least one foreclosure filing during 2009, up from 2008′s 1.48 percent and 2007′s 1.03 percent.
In the month of December alone, the foreclosure filings were reported totaled 349,519 properties in December. That’s a fourteen percent jump from the previous month of November and a fifteen percent increase from 2008. Despite this, even though there was an increase in December, foreclosure activity in the fourth quarter of 2008 has decreased by seven percent.
Find another great article Please visit Delicious for a new private feed subscription
Of all of the states, Nevada claimed the nation’s highest state foreclosure rate; more than ten percent of housing units received at least one foreclosure filing in 2009. That makes Nevada’s third consecutive year at the top of the foreclosure list. Nevada’s foreclosure activity in December increased twenty seven percent from the previous month, but still was down by twenty two percent from December of 08.
Arizona took the nation’s second highest state foreclosure rate in 2009 with more than six percent of properties receiving at least one foreclosure filing during the last year, and Florida claimed the nation’s third highest foreclosure rate at 5.93 percent of its properties having at least one foreclosure during the filing year.
Clearly, this raises concerns in the debt collection industry. Recent trends have illustrated that consumers are raising up their credit debt and low balling their assets to receive lower payment plans. The fact that they are maxing out their credit cards to receive lower payment plans does not look promising.
Mallory Megan is employed by a debt collection company. Also she composes stories on business and finance, consumer spending and collection agencies. Get a totally unique version of this article from our article submission service
Other articles you might like;
- C-MAP NT+ ME-C201 - NE Africa Med Mid East Coast - Furuno FP-Card
- Blue Sea 4005 Standard Cable Caps
- C-MAP NT+ ME-C202 - Red Sea-Arabian Sea - Furuno FP-Card
- C-MAP NT+ NA-C039 - Ohio River Cairo Pittsburgh - Furuno FP-Card
- Blue Sea 3000 HD-Series Battery Switch Single Circuit ON/OFF
No related posts.
Related posts brought to you by Yet Another Related Posts Plugin.