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 March 29, 2007

Record foreclosure Rate Likely in 2007
Reports show the foreclosure rate actually dropped 4% during the month of February from January; however those figures are still 12% greater than 2006.
Based on the numbers from the first 2 months of the year, these figures show a trend that could likely project out to a 33% increase over 2006 figures.

The states that currently have the greatest amount of foreclosures are: Florida, Nevada and Colorado. Nevada alone reports that one out of every 278 home owners files for foreclosure. Colorado reports that one out of every 245 home owners files for foreclosure. Florida has one foreclosure for every 382.

Nationwide figures reflect that one out of every 884 files for foreclosure.

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