Friday, April 16, 2010

Early recovery foreclosed in some parts

Ohio foreclosures spike in 1Q
A surge in lender filings last month helped send first-quarter foreclosures up 5 percent in Ohio as bank repossessions nationwide hit their highest point in at least a half-decade, according to a Thursday report from RealtyTrac Inc.

Irvine, Calif.-based RealtyTrac, which compiles and sells foreclosure data, said Ohio logged 15,041 default notices, 7,543 auction notices and 10,637 bank repossessions in the first three months of the year. While up 5 percent from the same period in 2009, it was a 12 percent jump from the fourth quarter of last year.

Foreclosure rate drops but crisis not over yet
The number of New Jersey homeowners in various stages of the foreclosure process dropped in the first quarter of the new year — yet was still higher than in the same period in 2009.

Foreclosure Flood Waters Are Still Rising Fast
The dam is bursting on foreclosures. New data out today shows that the number of homes repossessed by banks has hit a record high.

REOs, as they’re called in the trade, rose nine percent in the first quarter compared to the previous one, according to housing industry research firm RealtyTrac. Home seizures are up 35 percent from the year-ago quarter.



RELATED: Unemployment rises in 24 states
Jobless rates in California, Florida, Nevada and Georgia all set record highs during March.

North Dakota continued to have the lowest jobless rate in March. The state's 4% rate was followed by South Dakota's 4.8% and Nebraska's 5% unemployment rates.

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