Top 10 Worst Foreclosure States For May, 2008

June 14th, 2008 • Related • Filed Under

Filed Under: Featured • Foreclosure • Top 10 Real Estate Lists

The big 4 lead the way again. Nevada, California,  Arizona, and Florida both have foreclosure rates above the rest of the country for May, 2008.

The rates are significantly worse than April with Nevada being up 23 percent. Colorado foreclosures were down 10 percent signaling a slowdown but for the most part the states saw rapid increases in the rate of foreclosure activity.

 Top 10 Worst Foreclosure States For May, 2008

Rank    State           Per 1000 April Change

1       Nevada          118     23.82
2       California      183     11.2
3       Arizona         201     11.52
4       Florida         228     5.96
5       Michigan        353     24.57
6       Georgia         378     11.45
7       Colorado        388     -10.05
8       Mass.           406     32.83*
9       Ohio            410     5.27
10      New Jersey      467     44.47*

Related posts:

1. Top 10 Worst States For Foreclosures in November, 2008
2. Top 10 States By Foreclosure Filings in 2008
3. Top 10 Worst Foreclosure Cities For 2008
4. Top 10 States For Foreclosures in January 2009
5. Top 10 Fastest Growing States in the United States 2007-2008

There Are 8 Responses So Far. »

1. 

   Comment by Eddie Stewart on 16 June 2008:

   Foreclosures are way up and it appears we’ve only seen the beginning. It doesn’t take a real estate guru to see that. But with all the heart ache there can be incredible potential. There’s a Google Maps/MLS mashup by PropertyMaps that lists and shows pictures of foreclosure properties across the US. It’s been very helpful.
2. 

   Comment by Susan on 11 July 2008:

   I agree, short sales and foreclosures are going to keep quite common the MLS for some time.
3. 

   Comment by Greg Watson on 17 August 2008:

   I totally agree with you. Thank you for sharing
4. 

   Comment by Dale "Short Sale" Kirkland on 19 August 2008:

   Well, it’s interesting to see that the states most affected are ones that have stressed economies already. The fact that many are doing everything to get jobs is directly related to their ability to pay a mortgage. Dale

5. Pingback by Casse-noisettes au pays des subprimes | Netlex FOCUS on 20 October 2008:

   [...] Top 10 Worst Foreclosure States For May, 2008 June 14th, 2008 [...]
6. 

   Comment by Jon Ledin on 28 February 2009:

   I am writing to you in hopes of you contacting me about my solution to the mortgage crisis and foreclosures facing thousands of homeowners in America.

   I have the solution to this problem but I need financial backing and Government assistance for it to work.

   I will cover some of the highlights of my plan but my desire would be to make a presentation to you in person.

   I went through foreclosure on my house back in 2007. I used the knowledge and experience I gained in representing myself in court for over 20 years to get my case Dismissed without prejudice.

   I now live in my home free and clear of any mortgage payments. Since that time, I have been on a crusade to help others facing foreclosure.

   Here are some of the highlights of my plan.
   1. There is NO LENDING involved 2. The homeowner never pays interest.
   3. The homeowner receives interest on his mortgage payments 4. The Organization created by this plan will be a Non-Profit Organization 5. There is a stock purchase plan

   Contact Jon jledin03@yaoo.com
7. 

   Comment by Real Estate Investing Resource on 12 May 2009:

   I think it makes sense investing in real estate during depression since prices are falling but you should be very attentive to know when the prices hit the bottom, you might miss the ride.. You can park the properties and sell it later for a good price and remember “millionaires are made during economy depression!”.
8. 

   Comment by Vikas on 13 May 2009:

   I also agree, this is the best time to invest when prices are coming back to their real state.Now prices are low and chances to go more down are less.

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