Nevada Tops on Foreclosure List For 43 Months
One in every 82 units in the state faced a filing in July.
With the highest rate of home loan default filings in the country, more people in Nevada may be trying to avoid foreclosure.
A recent report from RealtyTrac showed that July saw one in every 82 housing units in the Silver State face some sort of filing, including bank repossessions, scheduled auctions and default notices. The state has led the nation for the last 43 months.
Arizona came in second with a mark of one in every 167 properties facing a filing. California posted the fourth-highest rate, according to the firm.
Nationally, one in every 397 properties received a filing in July. James Saccacio noted that the month was the 17th in a row to see more than 300,000 properties facing trouble.
"Declines in new default notices, which were down on a year-over-year basis for the sixth straight month in July, have been offset by near-record levels of bank repossessions, which increased on a year-over-year basis for the eighth straight month," Saccacio said.
A program designed to help consumers in Nevada avoid foreclosure has helped about 43 percent of participants.
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