Can anyone say 'Resolution Trust Corporation'?
Can anyone say "Government Bailout of Fannie Mae"?
Can anyone say "We're Just Getting Started"?
Can anyone say "Massive Supply of Homes to Get Worse"?
Casey, at least you're not alone...
More homes went into foreclosure last month than in any month yet this year, according to figures compiled by RealtyTrac of Irvine, a foreclosure information company.
It says 115,568 properties nationwide entered some stage of foreclosure during October, the most reported in any month so far this year and an increase of 42 percent from October 2005.
The national foreclosure rate is now one new foreclosure filing for every 1,001 U.S. households, the highest monthly foreclosure rate reported so far this year.
"So far this year more than 1 million properties have entered some stage of foreclosure nationwide, up 27 percent from the same time last year," says James Saccacio, chief executive officer of RealtyTrac.
For the eighth consecutive month Colorado had the nation's highest state foreclosure rate
With one new foreclosure filing for every 389 households, Nevada documented the nation's second highest state foreclosure rate for the fifth straight month as foreclosures continued to climb.
November 24, 2006
Posted by blogger at 11/24/2006