Industry News

Nevada leads U.S. in rate of foreclosures

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Nevada led the nation with a rate of one foreclosure filing for every 154 households in October -- it was the 10th consecutive month that the state topped this list, online foreclosure research company RealtyTrac reported today. Nevada had 6,618 foreclosure filings in October, up 196.9 percent compared to October 2006, RealtyTrac reported. Foreclosure filings for that state rose 20.2 percent since September, when the state had a foreclosure rate of one foreclosure filing for every 185 households. Nationwide foreclosure filings rose 94.2 percent in October compared to the same month last year, to a total of 224,451 filings and a rate of one filing for every 555 households. Click here to see RealtyTrac's U.S. Foreclosure Rates Heat Map -- Oct 2007. Bank repossessions were up 158 percent in October compared to October 2006 and up 35 percent compared to September 2007, "evidence that more homeowners who enter foreclosure are losing their homes," James J. Saccacio, RealtyTrac CEO, said in a...