Nevada Posts Highest Foreclosure Rate so far in 2010

While the Silver State came in first, Arizona placed second.

A report from RealtyTrac showed that Nevada had the highest foreclosure rate in the country during the first half of 2010.

According to the company, one in every 17 housing units in the state faced a foreclosure filing during the first six months of this year. That's roughly 6 percent of the properties in Nevada, giving it the No. 1 rate in the nation.

Arizona came in second with one in every 30 units seeing a foreclosure. When compiling its numbers, RealtyTrac considers default notices, scheduled auctions and bank repossessions.

Nationally, the first half saw more than 1.65 million foreclosures, which is 5 percent less than was reported during the final six months of 2009. However, it is 8 percent higher than the first half of last year.

"The midyear numbers put us on pace to exceed 3 million properties with foreclosure filings by the end of the year, and more than 1 million bank repossessions," RealtyTrac CEO James Saccacio said.

States like Nevada, along with the federal government, have tried to help consumers avoid foreclosure through a number of initiatives, including the Home Affordable Modification Program.ADNFCR-3423-ID-19897731-ADNFCR




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