10 States with Highest Foreclosure Rate October 2006
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RealtyTrac has come out with their October 2006 numbers and the results are in. Colorado leads the way with once out of 337 homes in foreclosure. Vermont had the least amount of foreclosures in the country with only one home in forclosure. Bet that guy has the neighbors talking for breaking the perfect streak.
The percentages are the change from October of 2005.
Top 10 States with Homes in Foreclosure October 2006
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Colorado 1 out of 337 homes (117 % increase)
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Nevada 1 out of 389 homes (557 % increase)
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Georgia 1 out of 449 homes (99 % increase)
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Michigan 1 out of 623 homes (88 % increase)
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Illinois 1 out of 632 homes (144 % increase)
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Florida 1 out of 640 homes (49 % increase)
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Ohio 1 out of 654 homes (55 % increase)
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Tennessee 1 out of 668 homes ( 99 % increase)
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New Jersey 1 out of 675 homes (37 % decrease)
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Utah 1 out of 718 homes (13 % increase)
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Comment by jenay jones on 1 November 2007:
I feel the Homeowners Insurance is more of a problem then the mortgage itself. People go into a mortgage with the understanding that it is what it is especially fixed rates. They get a deal on insurance in the beginning of home purchasing not knowing in the event of an castrophe that their insurance would shoot up so high that would cause anyone to go into foreclosure, because you can’t have one without the other. So now what is one to do. Especially when this was not part of ones budget from the start. Not to mention people losing their jobs all over the glove.