US: Foreclosures, Homes ‘Under Water’, Mortgage Delinquencies

Metro Atlanta foreclosures set new monthly record (Atlanta Journal Constitution):

Metro Atlanta’s foreclosure problem keeps getting worse.

The number of foreclosure notices this month — 12,568 — set a new record for metro Atlanta, according to data just released by Equity Depot.

Foreclosure notices in the 13-county metro area jumped 22 percent when compared with February and 24 percent compared with March of last year, Alpharetta-based Equity Depot said.

This month’s number also is greater than the previous monthly record of 12,318 notices, set in September of last year.

Foreclosures are still on the Rise in Illinois (The Chicago 77):

Foreclosures in Illinois increased 22% in February, 2010. The high foreclosure rate can be attributed to the high unemployment rate and declining home prices. With the declining market many people are finding themselves underwater in their homes. Meaning . . . they owe more on their home than their home is worth.
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Lucky for those that live in Illinois, the state had the lovely distinction of having 17,312 properties in foreclosure, which is the fourth-highest state nationwide. California ranked number one

Foreclosures: February ties November for highest number of foreclosure filings (Daily Press):

Foreclosure filings were reported on 134 properties in Hampton last month.

That’s roughly one for every 449 housing units, ranking it 12th highest among Virginia cities and counties for its foreclosure rate, according to RealtyTrac’s latest foreclosure report.

Across the Peninsula, foreclosure filings were reported on 361 properties. That’s ties November for the highest monthly number recorded.

February’s 361 filings are up 18 percent from January and up 57 percent from February 2009.

–  Connecticut Foreclosures Up 3 Percent in February (New York Times):

HARTFORD, Conn. (AP) — A new report says the number of foreclosures in Connecticut increased 3.4 percent from January to February, despite a national decline.

Foreclosure tracking firm RealtyTrac Inc. released its monthly report Thursday. It says there were nearly 2,300 foreclosure filings in the state last month, compared with about 2,200 in January.

Total foreclosures nationwide decreased 2 percent from January to February, raising hopes that the housing crisis may be ending. RealtyTrac says more than 308,000 households nationwide, or one in every 418 homes, received a foreclosure-related notice in February.

Md. foreclosure filings skyrocket in February (Washington Examiner):

Prince George’s County saw nearly 1,800 foreclosure filings last month — about one-third of Maryland’s total — as state and federal officials scramble to find a solution to the unrelenting mortgage crisis.

Nine of the 10 Washington-area ZIP codes with the most foreclosure filings in February were in Prince George’s. The county’s filings increased 71 percent from last February, pushing Maryland to the 10th-worst rate in the country, according to the online foreclosure tracking company RealtyTrac.

Just a few years ago, Northern Virginia was ground zero for the foreclosure crisis; Prince William County had more than 6,500 actual foreclosures in 2008, according to data from the county’s assessments office. Over the past 16 months, though, the crisis has shifted from the Virginia suburbs to Maryland.

Foreclosure starts up nearly 20 percent in California (Central Valley Business Times):

After reaching the lowest level in a year in January, Notice of Defaults, the start of the foreclosure process, increased by 19.7 percent in February, according to a report Monday from ForeclosureRadar Inc., a Discovery Bay-based foreclosure information company that says it tracks every California foreclosure.

More than half of mortgaged homes in St. Lucie, Martin are ‘under water’ (Vero Beach Press-Journal):

More than half of mortgaged residential properties in St. Lucie and Martin counties are “under water,” a recent report by a company that tracks home sales, price trends and foreclosures shows.

The report by California-based First American CoreLogic found that 56 percent, or 62,696, of all residential properties with a mortgage in the Port St. Lucie Metropolitan Statistical Area were in a negative equity position for the fourth quarter of 2009. That’s more than double the national rate of 24 percent.

The Port St. Lucie Metropolitan Statistical Area encompasses St. Lucie and Martin counties. First American did not report similar data for Indian River County.

Another 3 percent, or 3,345, in the two-county area had equity of less than 5 percent.

Jacksonville mortgage delinquencies rise above 10% (Florida Times-Union):

The number of Jacksonville homeowners who have fallen behind on mortgage payments rose steadily over the past three years and today stands at more than 10 percent, according to a national credit monitoring company.

Mortgage delinquencies of 60 days or more were 2.2 percent at the end of 2006 – a figure that grew to 10.3 percent by the close of 2009, according to TransUnion LLC, a company that maintains credit histories on about 500 million people internationally.

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