USA’s “Champions” of Foreclosure Rates
Just about everyone inside and outside of the U.S. knows about the major financial crisis the country went through a few years back. It was a mess of big banks getting away with everything but murder, people being suckered into mortgages they couldn’t afford, and ruin around the nation as everyday people began losing homes left and right. Despite the narrative that some officials like to push, things really haven’t gotten much better since 2008. Here are five states in America with gloomy high rates of foreclosure.
Florida
Unfortunately, Florida is still among the top U.S. states for foreclosure. In July 2016, 1 out of every 808 housing units with a mortgage was the recipient of a foreclosure filing. It’s a scary statistic, especially when compared to the national average of that time of 1 foreclosure for every 1,540 housing units. The battle that homeowners in Florida have been fighting against the big banks to keep their homes has been like watching a Marvel VS DC epic saga. Except this crisis is all too real, and it’s not the least bit entertaining.
Nevada
This state fares a bit worse than Florida, and it’s notably one of the states with the biggest increase in foreclosure filings. In July 2016, filings went up 15.35% from the previous month. One in every 805 houses in the state ends up being part of a foreclosure filing, and this is definitely bad news for Nevada’s economy. The large number of people who lose their homes points to instability in all areas. The root causes of the housing issue still haven’t been addressed, which is a large part of why the problem continues to plague homeowners.
Maryland
Interestingly enough, Maryland’s foreclosure filing rate went down 16.11% in July 2016 compared to the previous month. Still, that only brought the foreclosure rate to 1 in every 772 homes, which was the third highest in the nation for that time period. What’s going on in the state is truly a mess and people can’t seem to catch a break there, even though the banks receive plenty of help from the government. For those who need relief from the stress, Euro Palace casino provides a much needed outlet and a way to relax.
New Jersey
New Jersey continues to have one of the highest rates of foreclosure in the U.S., and that’s truly sad is that the decline is visually apparent all around. An increasing number of homes sit abandoned, taken from their owners and left to decay. Banks have received plenty of criticism for opting to foreclosure on properties for profit instead of working with homeowners to stay in place, get back on track, and help keep up the property and the neighborhoods around them. In July 2016, 1 in every 610 houses in New Jersey was involved in a foreclosure filing.
Delaware
All of the jackpots on Euro Palace casino couldn’t pull Delaware’s homeowners out of this bind, but the first step to figuring out how to solve the foreclosure problem is admitting that it still exists and is getting worse. Remarkably, in July 2016 the state’s foreclosure filing rate went up 41.37%. That’s a very disturbing trend without a quick fix.
According to analysts, it’s quite unlikely that the newly elected government will be able to quickly change that situation for the better.