The foreclosure rates in the United States have seen a 1 percent increase compared a year ago, marking the first year-over-year increase in 36 months. Previously, the U.S. had seen a nationwide streak of solid numbers in terms of slowing foreclosure rates. This year, however, 21 states have posted a year-over-year increase in foreclosures. While those numbers are troubling, the reality is that foreclosure rates have steadily declined throughout the U.S. since the 2008 recession. Overall, the country has recovered well over the last decade.
Nevertheless, there are still a number of states struggling this year as it relates to foreclosures. On average, about one in every 1,776 U.S. homes are currently in foreclosure. The following states have ranked the highest for foreclose rates:
- New Jersey
- Delaware
- Maryland
- Illinois
- Connecticut
- Florida
- South Carolina
- Ohio
- Nevada
- New Mexico
New Jersey leads the pack with the highest foreclosure rate. With Delaware trailing slightly behind. Illinois is amongst the highest rates in the country with 0.86% home foreclosures. Many are citing that a tax burden is prompting them to leave the state. At the Law Office of Brenda Murzyn, P.C., our firm can explain your options and represent you in legal proceedings if you are facing foreclosure or want to prevent foreclosure. We can help with procedural review, foreclosure appeals, private investor solutions, real estate sales and closing assistance, post sale representation, and buy-back negotiations.
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