Foreclosures hit new records in third quarter

November 01st, 2007 | Category: Stocks

Records were set again as RealtyTrac released its foreclosure statistics for the third Quarter - 446,726 homes nationwide were targeted with some type of foreclosure activity within the months of July and September. That’s double the number facing foreclosure for the same period one year ago and 33.9% higher than the moment quarter.

Nevada tops the list with one in every 61 households facing foreclosure. California’s foreclosure filings hit one in every 88 households and Floridians face foreclosure in one of every 95 households.

Other states hardest hit include Michigan, Ohio, Colorado, Arizona, Georgia, Indiana and Texas. Nationwide, one in every 196 households are facing foreclosure according to RealtyTrac. Indications are that many of these foreclosures are being driven by real estate investors rather than homes occupied by domestic owners.

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Original post by Lita Epstein

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