10 States Suffering the Most From Foreclosures

Foreclosures declined for the 20th consecutive month year-over-year, but were still high in these 10 states.

Foreclosures in May were down 19% from the previous year, the 20th straight month of year-over-year declines, according to data released by ATTOM Data Solutions.

A total of 81,495 U.S. properties had a foreclosure filing in May, or one in every 1,636 units. Despite the declines, some states continue to struggle with foreclosures, particularly New Jersey, where foreclosure rates are high in communities like Atlantic City and Trenton.

A foreclosure can wreak havoc on a homeowner’s credit. You can see how your mortgage or foreclosure is affecting your credit score by checking your free credit report summary on Credit.com.

Here are the ten states with the highest foreclosure rates.

10. South Carolina

May 2017 Foreclosure Rate: 1 in every 1,186 housing units

Change from April 2017: Up 1.89% (was No. 8)

Change from May 2016: Down 20.41% (was No. 7)

9. Ohio

May 2017 Foreclosure Rate: 1 in every 1,176 housing units

Change from April 2017: Up 8.25% (was No. 9)

Change from May 2016: Down 16.84% (was No. 9)

8. New Mexico

May 2017 Foreclosure Rate: 1 in every 1,168 housing units

Change from April 2017: Up 73.50% (was No. 20)

Change from May 2016: Down 11.38% (was No. 10)

7. Florida

May 2017 Foreclosure Rate: 1 in every 1,140 housing units

Change from April 2017: Up 5.38% (was No. 7)

Change from May 2016: Down 35.00% (was No. 4)

6. Nevada

May 2017 Foreclosure Rate: 1 in every 1,108 housing units

Change from April 2017: Up 2.87% (was No. 6)

Change from May 2016: Down 22.76% (was No. 5)

5. Oklahoma

May 2017 Foreclosure Rate: 1 in every 1,081 housing units

Change from April 2017: Up 81.53% (was No. 19)

Change from May 2016: Up 63.84% (was No. 26)

4. Illinois

May 2017 Foreclosure Rate: 1 in every 1,057 housing units

Change from April 2017: Up 2.47% (was No. 5)

Change from May 2016: Down 16.90% (was No. 6)

3. Maryland

May 2017 Foreclosure Rate: 1 in every 1,006 housing units

Change from April 2017: Down 22.94% (was No. 3)

Change from May 2016: Down 30.80% (was No. 2)

2. Delaware

May 2017 Foreclosure Rate: 1 in every 753 housing units

Change from April 2017: Down 6.30% (was No. 2)

Change from May 2016: Down 4.18% (was No. 3)

1. New Jersey

May 2017 Foreclosure Rate: 1 in every 515 housing units

Change from April 2017: Up 9.29% (was No. 1)

Change from May 2016: Up 8.81% (was No. 1)

Image: mactrunk 

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10 States Where Foreclosures Still Reign Supreme

Nationwide foreclosure activity reached its lowest level in a decade but remains high in some areas.

Foreclosure filings in April reached the lowest level since November 2005, according to data from ATTOM Data Solutions.

Mortgages originated in the past seven years have performed relatively well, keeping foreclosure activity down, said Daren Blomquist, senior vice president at ATTOM.

“Meanwhile, we are seeing an elevated share of repeat foreclosures on homeowners who often fell in default several years ago but have not been able to avoid foreclosure despite the housing recovery,” he said.

New Jersey continues to have the highest foreclosure rate in the nation, thanks in part to communities like Atlantic City and Trenton, where many housing units had foreclosure filings.

Newer Mortgages Are Performing Well

A shrinking number of U.S. properties started the foreclosure process in April. The 34,085 foreclosure starts for the month are well below the pre-recession average of 77,000.

A foreclosure can devastate a homeowner’s credit. You can see how your mortgage or foreclosure is affecting your credit by reviewing your free credit report summary on Credit.com.

While foreclosures dropped nationwide, many states continue to struggle. Here are the 10 with the highest foreclosure rates.

10. Massachusetts

April 2017 Foreclosure Rate: 1 in every 1,329 housing units

Change from March 2017: Up 25.78% (was No. 19)

Change from April 2016: Up 2.95% (was No. 14)

9. Ohio

April 2017 Foreclosure Rate: 1 in every 1,273 housing units

Change from March 2017: Down 9.16% (was No. 8)

Change from April 2016: Down 23.66% (was No. 8)

8. South Carolina

April 2017 Foreclosure Rate: 1 in every 1,209 housing units

Change from March 2017: Down 14.29% (was No. 6)

Change from April 2016: Down 20.96% (was No. 7)

7. Florida

April 2017 Foreclosure Rate: 1 in every 1,202 housing units

Change from March 2017: Up 3.63% (was No. 9)

Change from April 2016: Down 38.90% (was No. 4)

6. Nevada

April 2017 Foreclosure Rate: 1 in every 1,140 housing units

Change from March 2017: Down 24.80% (was No. 3)

Change from April 2016: Down 33.42% (was No. 5)

5. Illinois

April 2017 Foreclosure Rate: 1 in every 1,083 housing units

Change from March 2017: Down 20.34% (was No. 5)

Change from April 2016: Down 12.98% (was No. 6)

4. Connecticut

April 2017 Foreclosure Rate: 1 in every 956 housing units

Change from March 2017: Up 20.91% (was No. 7)

Change from April 2016: Up 29.22% (was No. 11)

3. Maryland

April 2017 Foreclosure Rate: 1 in every 776 housing units

Change from March 2017: Up 5.68% (was No. 2)

Change from April 2016: Down 29.38% (was No. 1)

2. Delaware

April 2017 Foreclosure Rate: 1 in every 706 housing units

Change from March 2017: Up 21.53% (was No. 4)

Change from April 2016: Down 10.38% (was No. 3)

1. New Jersey

April 2017 Foreclosure Rate: 1 in every 562 housing units

Change from March 2017: Down 11.59% (was No. 1)

Change from April 2016: Up 0.63% (was No. 2)

Image: fstop123 

 

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2017 Started With Fewer Homes in Foreclosure

Good news: The U.S. residential foreclosure rate fell 12.94% in January from the same time in 2016.

Image: jhorrocks 

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