The number of U.S. households under foreclosure spiked 32 per cent in April compared with April 2008, reaching a record for the second consecutive month. 342,000 households received at least one foreclosure filing notice in April, according to RealtyTrac, Inc.
One out of every 374 households with mortgages received a foreclosure filing during the month of April, the highest monthly rate since Realty Trac started recording figures in January 2005.
According to Realty Trac’s latest report the state of Nevada continued to post the nation’s highest state foreclosure rate in April, with one out of every 68 households receiving a foreclosure notice, five times the national average.
The number of repossessions by banks was down on a monthly and annual basis, but they are expected to increase in coming months, RealtyTrac said. Approximately 64,000 homes were repossessed in April and 72,000 in March.
Image by respres under Creative Commons.
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