More bad news from RealtyTrac: foreclosure filings increased 57% in March 2008, compared to last year’s levels. Foreclosures also are up 5% from February, showing that the housing market is continuing to slide.
Leading the nation were Nevada and California. It is Nevada’s 15th consecutive month as the state with the most foreclosures.
Year-to-year, the number of properties repossessed by mortgage lenders has increased 129%.
Georgia is still among the states with the most foreclosures, with only Nevada, California, Florida, Arizona and Colorado with higher foreclosure rates. One in every 351 Georgia households received a foreclosure notice. Georgia also totaled 11,047 homes in foreclosure – the fourth-highest in the nation.
Again, as a lawyer for real estate investors, the story remains the same: investors should plan on these levels of foreclosures continuing for the foreseeable future.
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