Industry NewsMortgage

Foreclosure filings increase in April

Nevada, California, Arizona top RealtyTrac list

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Foreclosure-related filings rose 4 percent from March to April and 65 percent from a year ago, with nearly a quarter of a million properties nationwide subject to a default notice, auction-sale notice or bank repossession, data aggregator RealtyTrac reported. RealtyTrac estimates that about 2 percent of households nationwide are in some stage of the foreclosure process, with parts of California, Florida, Nevada and Arizona among the hardest hit. Of the 10 cities with the highest rate of foreclosure-related filings, nine were in California and Florida. In California, Merced led the nation in foreclosure-related filings with one per 66 households. Stockton, Modesto, Riverside, Vallejo-Fairfield and Bakersfield also made the top 10 list. In Florida, three communities -- Cape Coral-Fort Myers, Port Lucie-Fort Pierce and Fort Lauderdale -- had foreclosure rates that placed them in the top 10 among 230 metropolitan areas where RealtyTrac collects data. Las Vegas cracked the ...