The number of U.S. households facing foreclosure in January increased 15 percent from the same month last year.
More than 315,000 households received a foreclosure-related notice in January, RealtyTrac Inc. reported February 11,2010. January marked the 11th straight month with more than 300,000 properties receiving a foreclosure filing
Six states account for nearly 60% of national total California, Florida and Arizona posted the three highest state totals in terms of properties receiving foreclosure filings in January, and together those states accounted for more than 44% of the national total.
Illinois posted the nation’s fourth highest total in January, with 18,120 properties receiving a foreclosure filing during the month—a nearly 2% increase from the previous month and a 25% increase from January 2009.
Michigan posted the nation’s fifth highest total, with 17,574 properties receiving a foreclosure filing, and Texas posted the sixth highest total, with 12,225 properties receiving a foreclosure filing.
Other states with totals among the 10 highest in the country were Nevada (11,854), Georgia (11,274), Ohio (11,105) and New Jersey (6,146).
Issues, such as unemployment or reduced income, are expected to be the main catalysts for foreclosures this year. Homeowners with good credit who took out conventional, fixed-rate loans are the fastest growing group of foreclosures.
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