Nevada’s foreclosure starts soar 334 percent in February
Nevada’s foreclosure starts jumped 334 percent in February from the same month a year ago, leading the nation in year-over-year percentage gains, online foreclosure listing service RealtyTrac reported late Wednesday.
Other states with huge spikes in foreclosure activity include Maryland (319 percent), Washington (172 percent), New York (139 percent) and New Jersey (70 percent).
RealtyTrac showed 15,281 foreclosure filings on U.S. properties in February, a 2 percent increase from the previous month but down 25 percent from a year ago. Foreclosure filings include default notices, scheduled auctions and bank repossessions.
Florida had the nation’s highest foreclosure rate for the sixth straight month with one in every 282 housing units receiving a foreclosure filing, more than three times the national average.
Nevada was No. 2 for the fifth straight month with one in every 320 housing units receiving a filing.
“At a high level, the U.S. foreclosure inferno has been effectively contained and should be reduced to a slow burn in the next two years,” said RealtyTrac Vice President Daren Blomquist. “But dangerous foreclosure flare-ups are still popping up in states where foreclosures have been delayed by a lengthy court process or by new legislation making it more difficult to foreclose outside of the court system.”
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nevada’s fore closure rate up hmmm and still our president is silent and we have judges going to jail and judges ruling just weird stuff like an enlargement of time after 5 months of nothing. so after 5 months if a bank can not produce what is another month or 2 or5 gonna do???
just so he doesn thave to give a homeowner the home but court orders discovery. he cheew off is foot to spite his face. i suppose he thought they would produce and when wells fargo didnt he conveintly gave them more time
When will Americans start to catch on? Americans need to find out who is behind these foreclosures. More than three out of four mortgages in default are now held by FNMA, Freddie Mac or entities such as the Maiden Lane Corporations. Basically speaking, Uncle Sam owns the mortgages. Uncle Sam is dispossessing Americans from their homes withoput anyone realizing what is going on. Ignorance comes with a high price tag!
Does Daren Blomquist aspire to be a forest ranger? What’s the deal with all the fire lingo? Here’s what he should have said:
“The foreclosure inferno has been raging for over six years. The banks turned homes into tinderboxes and used forged documents to catch them ablaze. Judges, county officials and the federal government stood back and watched these homes – and the lives of the people who lived there – burn to the ground. Banks collected on the “fire” insurance and the homeowners were left with nothing.”
The foreclosure “fires” are smoldering only because the banks/servicers are controlling the burn. These “fires” are no longer reported by the media. The banks continue with their “Learn Not to Burn” propaganda. They promise not to light the spark that could cause your home to “catch” if you continue to drain your savings, 401K, borrow from family, etc.to keep your loan current. Never mind that your home is underwater and you will NEVER recoup your losses – no matter how long you ride things out.
Blomquist went on to say that most homeowners were responsible because they had been “playing with matches.”
Bottom line, as much as our failure in chief, most of the media would like to ignore it, the damn has broken, meaning there is still a Foreclosure crisis running at full tillt. This was obvious by 1/1/2013 and the abhorrent fail from the OCC, and Obama not even bothering to discuss the continuing carnage. Occupy!