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Home Foreclosures

Despite of the positive changes, the home foreclosures activity is steadily increasing and more and more homes are going on the list. In February, the increase showed a 6 percent difference in the market. The United States Foreclosure Market Report reported that over 290 thousand properties were hitting the foreclosures filing in February.

The filings included a list of bank-repossessed homes, auction sale notices, default notices, homes in distress and so forth. According to the national report, every 440 United States housing units had received foreclosure filings.

This increase was surprising to some, since the moratoria and prevention efforts were in place. At the end of January 2009, however the moratoria handled by Florida had expired. At this time, Florida’s foreclosure filing was up to 14%.

New York experienced some delays in the home foreclosures process. New laws were put into place, which gave landowners other 90-days to pay their dues. The month before the state experienced a 23% in foreclosure filings.

California, Arizona and Nevada made the top three state rates in foreclosure. One of every 70 housing units had received foreclosure filing during February. Nevada made the top of the charts with over 15,780 homes making the foreclosures filing list. This was a 9% increase from the prior month.

Arizona made the second rank in February with one of every 147 homes receiving foreclosed filings each month. California ranked third with one of every 165 homes in the foreclosures filing. Florida, Michigan, Idaho, Georgia, Illinois, Ohio and Oregon made the top ten foreclosures filing lists.

Surprisingly, Michigan ranked high with home foreclosures filings despite that the Sheriff in various counties had the authority to delay foreclosures until the homeowners had exhausted their opportunities and resources to find a way to save their home.

Georgia government made some efforts to save distressed families from losing their homes as well, but it didn’t stop them from making the top ten foreclosure listings.

Source: Universal Accounting : http://www.universalaccounting.co.uk

Joseph Smith has been educating buyers on the finer points of Home Foreclosures purchase at ForeclosureListingsNationWide.com for over ten years. Click here to visit and read more advice on finding Georgia foreclosure listings.

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