Greenbook: A Local Guide to Chesapeake Living - Issue 5 | Page 57

foreclosure auctions—which can act as the foreclosure start in some states—25 states posted a yearover-year increase in scheduled foreclosure auctions,
including New York (up 146 percent; ninth consecutive
month with an increase), Massachusetts (up 88 percent; third consecutive month with an increase), New
Jersey (up 38 percent; 15th consecutive month with an
increase), and Washington (up 17 percent; five out of
last seven months with an increase).
15 states post annual increase in REOs
Nationwide, 24,305 properties were repossessed
by lenders via foreclosure (REO) in February, up
9 percent from revised January numbers but down
20 percent from a year ago. February was the 27th
consecutive month where REOs nationwide
decreased on an annual basis.
Despite the national decrease in REOs compared
to a year ago, 15 states posted year-over-year
increases in REOs, including Maryland (up 70
percent; fifth consecutive month with an
increase), New York (up 24 percent; four out of last
five months with an increase), Ohio (up 23 percent;
third consecutive month with an increase), and North
Carolina (up 18 percent; three out of last four months
with an increase).
Maryland, Nevada, Florida post highest state
foreclosure rates
Maryland foreclosure activity decreased 1 percent

compared to a year ago in February, but the state
still posted the nation’s highest foreclosure rate: one in
every 564 housing units with a foreclosure filing.
Nevada foreclosure activity in February increased 12
percent from a year ago driven primarily by a spike
in foreclosure starts, and the state’s foreclosure rate
was second highest in the nation for the second month
in a row. One in every 569 Nevada housing units had a
foreclosure filing
during the month.
Florida posted the nation’s third highest state
foreclosure rate—one in every 570 housing units with
a foreclosure filing—despite a 35 percent
decrease in foreclosure activity from a year ago.
Other states with foreclosure rates among the top
10 highest nationwide in February were Indiana (one
in every 871 housing units with a foreclosure filing),
Idaho (one in every 877 housing units), New Jersey
(one in every 895 housing units), Illinois (one in every
906 housing units), Delaware (one in every 957
housing units), Ohio (one in every 1,000 housing units),
and North Carolina (one in every 1,088
housing units).
For more information,
visit www.realtytrac.com.
Reprinted with permission from RISMedia. ©2015.
All rights reserved.

We would like to Congratulate our
very own Jennie Melvin, for being
a 2015 Capital Gazette Readers
Choice Finalist.

We are all very proud of you!