Highest Foreclosure Rate Seen in Nevada
RealtyTrac noted that one in every 79 homes in Nevada faced foreclosure in May.
Nevada continued to lead the country in homes lost by consumers, as some people in the state struggle to stop foreclosure.
RealtyTrac noted that the state's foreclosure rate came to one in every 79 homes in May, which more than five times greater than the U.S. average. This is despite the fact that Nevada saw the number of these troubled properties decrease 12 percent when compared to April. Foreclosure filings were also down 16 percent when held up to May of last year.
Arizona saw the nation's second-highest rate, with one in every 169 properties facing a foreclosure. California took fourth place in May.
"California alone accounted for more than 22 percent of the national total in May, with 72,030 properties receiving a foreclosure notice during the month - up 3 percent from the previous month but down nearly 22 percent from May 2009," RealtyTrac said.
Consumers who are facing problems with their mortgages may consider the government's Home Affordable Modification Program, which was started last year
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