Us: top 10 foreclosure states
US foreclosures are on the rise, but which States are most at risk…?
According to figures compiled by CNN Money, the top 10 States ravaged by foreclosure are:
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Mark Fleming, chief economist at CoreLogic, commented: “Mortgage delinquencies will continue to rise over the next six to 12 months as home prices decline and economic conditions remain difficult, according to one forecast released Monday.
“The Core Mortgage Risk Monitor (CMRM), an index of foreclosure risk compiled by real estate data analyzer First American CoreLogic, increased 16% compared with the same period last year.
“Nationwide, the markets with highest levels of delinquency risk also had double-digit declines in home prices and weakening labor markets. House price depreciation factors are now outweighing economic stress factorsâ€.
There is some good news though - the high level of foreclosures could be good news for international investors looking for bargains. With properties coming onto the market at knockdown prices and housing auctions selling off foreclosed properties, astute investors could be well placed to cash-in.