12 US housing markets getting rocked by foreclosures
The housing market may not be the bright spot of the recovery, especially as more people are starting to lose their homes.
"The widespread rise in foreclosure activity in the third quarter compared to a year ago is the result of two starkly different trends taking place," Daren Blomquist, vice president at RealtyTrac, said in the report. "In states such as New Jersey, Massachusetts, and New York, a flood of deferred distress from the last housing crisis is finally spilling over the legislative and legal dams that have held back some foreclosure activity for years."
Thirty-three states had year-over-year increases in foreclosure activity, and the country registered a 3% increase as a whole.
Bank repossessions, one of the better-known types of foreclosure activity, increased 66% in the third quarter from the same time period in 2014, with a total of 123,040 properties seized.
RealtyTrac also included a breakdown of each state's foreclosure information. We've compiled the 12 states with higher foreclosure rates than the national average, which was one house out of every 407. Each state also includes the change in foreclosure activity from the third quarter last year and the total number of properties involved in foreclosure.
Check it out at: http://www.businessinsider.com/states-with-highest-foreclosure-rate-2015-10