Monday, October 16, 2006

Foreclosure Buzz

In California, foreclosure activity rose 19 percent on a month-to-month basis and has increased more than 40 percent during the last two months, according to the report. With one new foreclosure filing for every 825 households, the foreclosure rate in the Golden State is 1.3 times the national average of one new filing for every 1,030 households. The highest state foreclosure rates were reported by Colorado and Nevada.

Just a note to keep things in perspective. Foreclosure rates have been near zero for many years now. So, as an example, if there were 100 foreclosures and they rose 19 percent, there would now be 119 foreclosures. So, yes, they are rising, but the rate of foreclosures has been almost non-existent for years now.

You can search foreclosures by going down to the end of this page and clicking on the banner.

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