Foreclosure Across the US At An All Time High

5 May 2008

Author: admin Posted under Foreclosure homes

Yes! The rate of bank foreclosures in the U.S is on the increase. The filings for tax lien foreclosures have jumped by 23% within the first quarter of 2008. The situation is such that in the very first quarter, the rate was one per 194 homes. Most of the homes were either sent notices of default (NOD) or were repossessed by the banks. In such a situation, it has become extremely difficult for homeowners to stop foreclosures or avoid it.

The number of filings for government tax foreclosures has been rising every year since 2006. This rise is unified across all the 46 states and has had its impact on the top 90 large metropolitan areas out of the 100. A huge 649,917 repo homes are now available for sale or auction and if you are an investor then you will find the foreclosure listings at foreclosure-support of great benefit to you.

According to some of the foreclosure experts, the trend is going to continue for a year or two. This is quite evident from the foreclosure filings made in the first quarter, which jumped by a huge 112% as compared to the percentage in the first quarter of 2007. California is one of the most favorable states for real estate and now with the 2nd highest rate of foreclosure homes for sale, investors can finally get to buy a piece of paradise in this extremely competitive state. The average rate of filings has been one per 78 households and this is a jump of 213% as compared to last year. If you are an investor looking for an opportunity to invest then you have more than 100,000 homes to choose from!

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