Florida Still Highest Among Foreclosures
Almost 1 in 4 mortgages are either past due or already in foreclosure during the second quarter, according to Mortgage Bankers Association. We also have the highest inventory of homes in foreclosure currently at 14.4%. The national average delinquency rate was 8.44% in the second quarter and up slightly from the first quarter.
Foreclosures continue to be found in just a few states, with ONLY five states accounting for 52 percent of the foreclosure inventory in second quarter.
1. Florida (14.4%)
2. Nevada (8.2%)
3. New Jersey (8%)
4. Illinois (7%)
5. Maine and New York (5.5%)
Source: Realtor Magazine August 23, 2011 http://realtormag.realtor.org/daily-news/2011/08/23/which-state-has-highest-foreclosure-inventory