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UPDATE – States With Highest Foreclosure Rates

[Post Category: Industry News]

Foreclosures were down 9% in December 2015, compared to the national foreclosure rate in December 2014, according to RealtyTrac. This capped a year of relatively low foreclosure activity — with nearly 1.1 million homes in some state of foreclosure during the year, 2015 had the lowest annual foreclosure total since 2006. house-680x430

According to analysis, declines in foreclosure starts drove the drop in overall foreclosure activity. About 570,000 properties entered the foreclosure process in 2015 (for instance, the homeowner received a notice of default for the first time), which is down 11% from 2014 and down 73% from the peak in 2009.

Declining foreclosure starts indicates good things about American homeowners’ finances. Defaulting on a loan or having a foreclosure on your credit report can devastate your credit standing. To know how your mortgage and other loan payment affect your credit scores, you can look at two credit scores for free every month on Credit.com.

While many of the same states tend to make up the list of the highest foreclosure rates from month to month, the rankings shifted around more from November to December than they often do. Here’s where foreclosure rates were highest in December. (Some states appear to be tied due to rounding, but are actually slightly different.)

10. Tennessee

Foreclosure rate in December 2015: 1 in every 1,158 homes had a foreclosure filing

Change from November 2015: up 9% (was No. 14)

Change from December 2014: up 88% (was No. 33)

9. New Mexico

Foreclosure rate: 1 in every 1,067 homes

Change from November 2015: up 56% (was No. 22)

Change from December 2014: up 32% (was No. 18)

8. Illinois

Foreclosure rate: 1 in every 1,006 homes

Change from November 2015: down 15% (was No. 5)

Change from December 2014: down 34% (was No. 4)

7. Connecticut

Foreclosure rate: 1 in every 989 homes

Change from November 2015: up 20% (was No. 11)

Change from December 2014: up 9% (was No. 9)

6. Delaware

Change from November 2015: up 52%* (was No. 12)

Change from December 2014: up 5% (was No. 6)

                              *  actual increase may be lower

5. Ohio

Foreclosure rate: 1 in every 790 homes

Change from November 2015: up 28% (was No. 7)

Change from December 2014: up 17% (was No. 7)

4. Nevada

Foreclosure rate: 1 in every 781 homes

Change from November 2015: down 1% (was No. 4)

Change from December 2014: down 13% (was No. 5)

3. Florida

Foreclosure rate: 1 in every 703 homes

Change from November 2015: down 6% (was No. 3)

Change from December 2014: down 22% (was No. 3)

2. Maryland

Foreclosure rate: 1 in every 581 homes

Change from November 2015: down 11% (was No. 1)

Change from December 2014: down 7% (was No. 2)

1. New Jersey

Foreclosure rate: 1 in every 553 homes

Change from November 2015: down 0.09% (was No. 2)

Change from December 2014: down 48% (was No. 1)

 

based on a slideshow from credit.com





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