Thursday, January 14, 2010

US Foreclosures Up 21% in 2009

The number of U.S. residential properties receiving at least one foreclosure filing jumped 21% in 2009 to a record 2.82 million, rrports RealtyTrac.

The report also showed that 2.21% of all U.S. housing units (1 in 45) received at least one foreclosure filing during the year, up from 1.84% in 2008, 1.03% in 2007 and 0.58% in 2006.

In December, foreclosures jumped 14 percent from the previous month.

The increase came despite foreclosure suspensions during the holiday season from companies like Citigroup, Bank of America and Fannie Mae.

“Had we not had a moratorium, it would have been even higher than we saw,” said Rick Sharga, vice president of marketing at “We’ll probably see an increase in the first quarter as well.”

In all, owners of 349,519 properties received a foreclosure notice in December.

The most severe problems continue in the west and in Florida.

Nevada had the highest monthly foreclosure rate in the country once again with one in every 94 households receiving a notice.

Arizona ranked second with one in every 132 households receiving a foreclosure notice, followed by Florida (one in every 158 households), Idaho (one in every 159 households) and California (one in every 165 households).

Vermont had the lowest rate with one in every 18,320 households receiving a notice.

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