14 Cities With the Most Foreclosures Right Now
By Mamta Badkar
One in every 859 U.S. homes is receiving a foreclosure filing, according to RealtyTrac's latest foreclosure report. Foreclosure filings were reported on 152,500 U.S. properties. This was down 1 percent month-over-month.
Certain housing markets have recovered well and economists are getting increasingly bullish about the national housing recovery. But housing is a local story, and many continue to suffer from an extremely high foreclosure rate.
"Although the overall national foreclosure trend continues to head lower, late-blooming foreclosures are bolting higher in some local markets where aggressive foreclosure prevention efforts in previous years are wearing off," said Daren Blomquist, vice president at RealtyTrac, in a press release. We drew on RealtyTrac's report to highlight the 14 metros with the highest foreclosure rate.
Note: The metros are ranked by foreclosure rate i.e. 1 in every X homes received a foreclosure filing. We picked the 14 metros with the highest foreclosure rate from all the metros measured by RealtyTrac.
See more on Business Insider:
It Looks Like Demand for U.S. Housing is Cooling Off
Experts Warn About An 'Outbreak of Delayed Foreclosures Down the Road'
Properties Entering the Foreclosure Process Spiked 200% in New York
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