Top Ten States for Foreclosure

In 2010, approximately 1 million homes were lost to foreclosure, according to CBS MoneyWatch. Unfortunately, for homeowners, the near future does not look any brighter. Some states were hurt much harder than others in the housing market and are mainstays on lists of highest percentage of foreclosures. RealtyTrac, a firm that keeps tabs on foreclosures, releases data each month on the states with the highest number of homeowners who are in jeopardy of losing their homes. The data is frequently cited by leading financial publications.

Nevada

Nevada, hard hit by the recession in the latter part of the 21st century's first decade, is frequently on RealtyTrac's state foreclosure list. In January 2011, the state led the nation in foreclosures with one in every 93 households receiving a foreclosure filing. That was a 3.45 percent change from January 2010 and a -8.97 percent change from December 2010. In 2010, 12,263 homes received foreclosure notices.

Arizona

Arizona is another state that is frequently on the list of states with the most foreclosures. At the beginning of 2011, approximately one out every 175 households received a foreclosure notices. This was a -25.14% change from January 2010. In 2010, 15,757 homes received notices.

California

California's huge population gives it raw numbers that dwarf other states with 67,072 foreclosure closings. The state entered the year with one in every 200 homeowners receiving foreclosure notices. This was a -6.61 percentage change from January 2010.

Idaho

In sparsely populated Idaho, one in every 241 households received a foreclosure notice in January 2011. This was a 3.19 percent change from January 2010. In 2010, 2,686 homes received notices.

Utah

Among Utah property owners, one in every 265 households received a foreclosure notice in January 2011. This was a -11.89 percent change from the previous year. In 2010, 3,601 homes received notices.

Michigan

In Michigan one in every 272 households received a foreclosure notice at the beginning of 2011 for a nearly 5 percent change from the previous year. Overall in 2010, 16,716 homes received notices.

Georgia

Down south in Georgia, one in every 318 homeowners were notified of foreclosure in January 2011. This was an increase of 13.29 percent from the previous January. In 2010, 12,772 homes received notices.

Illinois

Back in the Midwest, one in every 402 households in Illinois received foreclosure notices at the beginning of the year. This was a change of -27.35 percent from the previous year. In 2010, 13,164 homes received notices.

Florida

Homeowners in Florida underwent very tough times in 2010. Notices increased by a whopping 53.96 percent from the previous year. One in every 409 households received foreclosure notices. In 2010, 21,671 homes were notified of foreclosure.

Colorado

In the Rocky Mountain state, one in every 438 households received foreclosure notices at the beginning of 2011. This was a -1.65 percent change from the previous year. In 2010, 4, 946 homes received notices.

References

• CBS MoneyWatch; Report Shows 2010 Was Record Year for Foreclosures; Ilyce Glink; January 2011
• CNBC.com; States with the Highest Foreclosure Rates; February 2011
• U.S. News & World Report; Top 10 Foreclosure States: Luke Mullins; April 17, 2008
• Bankrate.com; Top 10 States for Foreclosure; Steve McLinden; January 2010
• RealtyTrac: National Real Estate Trends
• CBS MoneyWatch; 10 States Where Foreclosures Are On Sale; Ilyce Glink

Resources

• RealtyTrac: Foreclosure Overview