The Foreclosure Report

Texas Foreclosures 'On The Move'

Here is a press release on 2005 foreclosures in Texas. "Foreclosures in Texas are once again on the move. For the month of December 2005, a total of 2,997 new foreclosures were reported in Texas. By comparison, at the end of November 2005, 2,350 homes were on the sales block due to foreclosures."

"For all of 2005, the total number of foreclosed properties in Texas stood at 11,458, up from the 9,928 foreclosed homes recorded at year-end 2004."

"'December's higher US foreclosure rates were almost exactly the same foreclosure rates reported in October, which means that the two months with the highest numbers of foreclosures were both in the fourth quarter of 2005,' said James J. Saccacio, CEO of RealtyTrac. 'These rising numbers to finish off the year may indicate that economic factors such as higher interest rates are making it harder for some homeowners stay current on their mortgage payments.'"

"Texas documented the highest foreclosure rate of any state, with a 61 percent increase in new foreclosures in December. The state reported 12,753 properties entering some stage of foreclosure, one new foreclosure for every 631 households and the most new foreclosures reported by any state. Texas accounted for more than 15 percent of the nation's new foreclosures, RealtyTrac reported."

"Increasing foreclosures in Ohio and Indiana kept foreclosure rates in those states among the nation's five highest for the second month in a row. Ohio reported 6,767 properties entering some stage of foreclosure, a 36 percent increase and one new foreclosure for every 707 households. Indiana reported 3,387 properties entering some stage of foreclosure, a 21 percent increase and one new foreclosure for every 746 households."

"Foreclosures jumped 30 percent in Nevada and 22 percent in Utah, and foreclosure rates in those states also ranked among five highest nationwide. California reported 7,674 properties entering some stage of foreclosure, a 27 percent increase and the third most new foreclosures reported by any state in December."

posted by Ben Jones @ 11:08 AM