The foreclosure crisis continues to gather steam, as April filings—defined as default notices, auction sale notices, and bank repossessions—spiked almost 65 percent from the same month last year, according to RealtyTrac's most recent U.S. Foreclosure Market Report.
All told, 1 in every 519 American households received notice of a foreclosure filing in April, up from 1 in every 538 households in March.
RealtyTrac CEO James Saccacio had this to say in a statement:
The total number of U.S. properties with foreclosure activity in April was the highest monthly total we've seen since we began issuing the report in January 2005.... Areas of California, Florida, Nevada, and Arizona continue to be particularly hard-hit.
Here are the states with the highest foreclosure rates:
STATE FORECLOSURE RATE
- Nevada 1 filing per 146 households
- California 1 filing per 204 households
- Arizona 1 filing per 224 households
- Florida 1 filing per 242 households
- Colorado 1 filing per 349 households
- Maryland 1 filing per 380 households
- Georgia 1 filing per 422 households
- Ohio 1 filing per 432 households
- Michigan 1 filing per 440 households
- Massachusetts 1 filing per 539 households