Top 3 States in Foreclosures

Foreclosures, Short Sales, Tax Foreclosures
1

Just for info, the top three states in foreclosures according to Foreclosures.com are:

  1. Texas - 3,091 new home foreclosures in Sept.
  2. Georgia - 1,540 new home foreclosures
  3. Ohio - 1,436 new home foreclosures for the month.

Of all the states, Texas was the only one with more than 3,000 foreclosures.

2

Reslynn,

Where can I find these rankings for all states? or maybe top 10 or 20? Thanks for your Help!

Johnny

3

I’am suprised that Detroit was not in the top 3, you can get them dirt cheap, if you dare to invest in that area.

4

Metro Atlanta has actually been running well over 3000 pre-foreclosures every month for a while. Maybe the stats are for how many homes go back to the bank.

I only work parts of four counties on the north end of the 14 county metro area and I easily send out 700 foreclosure letters every month!

I think GA is high because it’s so easy to foreclose here. All you have to do is send a letter and advertise in a specific paper for four weeks. Then you have your auction on the first Tue of the month.

5

Yeah your stats are off…Dallas Fort Worth alone has 3-4000 pre foreclosures each month.

The whole state has much more than that!! lol

6

There was an article on AOL’s main page today.

Yea, I think that ATL number is wrong, everywhere you look in ATL, you see a foreclosure.

Check it out:

http://www.realtytrac.com/pub/articles/aol/modified/mforeclosure_rates.asp?a=b&accnt=15402

7

Metro Atlanta Foreclosures rise sharply in 2006 driven by defaults in Adjustable Rate Mortgages

Atlanta, GA, September 1, 2006— Equity Depot reported today that the number of Metro Atlanta foreclosures has increased 20% over last year but a staggering 130% increase since 2001. According to historical data, the 13 metro counties had a total of 25,276 foreclosures year to date compared to 21,030 for the same time period in 2005. In 2001, that number was 10,956.

“The number of foreclosures in the Metro area continues to track steeply upward driven largely by the increased percentage of Adjustable Rate Mortgage defaults. For example, in June 2005, 21% of Dekalb’s foreclosures were ARMs. That number in 2006 was 38%”, said Mark Sulimirski, Chief Product Engineer, Equity Depot.

Oklahoma, you dug up an old post there

This months list for the Atl area was over 3900 names I believe

Foreclosures will be on the rise