Indiana lead the nation with its foreclosure rate was nearly 1 percent. The Midwest has had the roughest time lately in the country as stagnant employment and rising energy costs have hit the region hard. The gulf region led to a national increase in defaults, but lenders have worked hard to help homeowners displaced to deal with the issues they are facing.
The rate of mortgage foreclosures filed in the fourth quarter of 2005 climbed to nearly 1 percent in Indiana, topping any other state, according to the Mortgage Bankers Association quarterly mortgage survey.
Trailing Indiana, at slightly below 0.90 percent, were Ohio and Michigan.Nationwide, the percentage of mortgage that started in the fourth quarter rose to 0.42 percent, up from 0.41 percent in the third quarter.
Late mortgage payments nationwide climbed to a 2.5-year high in the last three months of the year, as Gulf Coast homeowners struggled with fallout from hurricanes and high energy prices along with rising interest rates. via Northwest Indiana News
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