These U.S. Housing Markets are Still Mired in Foreclosure Crisis

These U.S. Housing Markets are Still Mired in Foreclosure CrisisOverall, U.S. foreclosure filings were down 18 percent in January 2014, compared to a year ago, as the market crisis has eased somewhat in many areas, according to RealtyTrac’s latest update. There is still an alarming number of people needing the services of this Denver, CO foreclosure lawyer but at least the number has decreased in the past year.
But in some markets, the trend has reversed by big numbers. For example, Atlantic City saw a 117 percent surge in foreclosure filings compared to a year ago. Filings include default notices, scheduled auctions and bank repossessions. Unfortunately, it has left people looking for ways to stop foreclosure to save their property.
By far, Florida has been hardest hit over the past 12 months, claiming 8 out of the 10 communities with the worst foreclosure rates.
Sharp annual increases “in some states shows that many states are not completely out of the woods when it comes to cleaning up the wreckage of the housing bust,” said Daren Blomquist, vice president at RealtyTrac.
According to RealtyTrac, here are the markets with the worst foreclosure rates:
14-Las Vegas-Paradise, Nevada
One in every 470 homes received a foreclosure filing in January 2014.
Properties with foreclosure filings: 1,786.
Change from January 2013: -39.07%.
13-Chicago-Naperville-Joliet, Illinois-Indiana
One in every 451 homes received a foreclosure filing in January 2014.
Properties with foreclosure filings: 8,421.
Change from January 2013: -34.88%.
12-Akron, Ohio
One in every 438 homes received a foreclosure filing in January 2014.
Properties with foreclosure filings: 713.
Change from January 2013: +55.0%.
11-York-Hanover, Pennsylvania
One in every 423 homes received a foreclosure filing in January 2014.
Properties with foreclosure filings: 422.
Change from January 2013: +11.05%
10-Rockford, Illinois
One in every 421 homes received a foreclosure filing in January 2014.
Properties with foreclosure filings: 346.
Change from January 2013: -36.98%
9-Jacksonville, Florida
One in every 410 homes received a foreclosure filing in January 2014.
Properties with foreclosure filings: 1,458.
Change from January 2013: -26.14%.
8-Atlantic City, New Jersey
One in every 400 homes received a foreclosure filing in January 2014.
Properties with foreclosure filings: 317.
Change from January 2013: +117.12%.
7-Tampa-St. Petersburg-Clearwater, Florida
One in every 389 homes received a foreclosure filing in January 2014.
Properties with foreclosure filings: 3,472.
Change from January 2013: -20.78%.
6-Orlando-Kissimmee, Florida
One in every 358 homes received a foreclosure filing in January 2014.
Properties with foreclosure filings: 2,630.
Change from January 2013: -32.15%.
5-Ocala, Florida
One in every 330 homes received a foreclosure filing in January 2014.
Properties with foreclosure filings: 497.
Change from January 2013: -32.10%.
4-Lakeland, Florida
One in every 291 homes received a foreclosure filing in January 2014.
Properties with foreclosure filings: 965
Change from January 2013: +14.47%
3-Palm Bay-Melbourne-Titusville, Florida
One in every 279 homes received a foreclosure filing in January 2014.
Properties with foreclosure filings: 968.
Change from January 2013: +21.91%.
2-Miami-Fort Lauderdale-Pompano Beach, Florida
One in every 239 homes received a foreclosure filing in January 2014.
Properties with foreclosure filings: 10,302.
Change from January 2013: -4.56%.
1-Port St. Lucie, Florida
One in every 211 homes received a foreclosure filing in January 2014.
Properties with foreclosure filings: 1,020.
Change from January 2013: +62.68%.

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