The latest RealtyTrac report shows 635,159 foreclosure filings on 446,726 properties in the US during the third quarter, a rate of one foreclosure filing for every 196 US households. The Mortgage Bankers Association report shows that the state's commercial loan delinquency ratio stood at .04%, marking the 36th consecutive quarter in which the delinquency ratio remained below a half of a percentage point.
"August and September were the two highest monthly foreclosure filing totals we've seen since we began issuing our report in January 2005," says James J. Saccacio, chief executive officer of RealtyTrac. With foreclosures increasing in 45 out of 50 states in the third quarter, and given the number of loans due to reset through the middle of 2008, "We would expect foreclosure activity to remain high and even increase over the next year in many markets," Saccacio says.
Nevada posted the nation's highest foreclosure rate for the quarter, one filing for every 61 households, with California placing second at one filing for every 88 households. Other states in the top 10 for filings per household were Florida, Michigan, Ohio, Colorado, Arizona, Georgia, Indiana and Texas.
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