RE and economic charts: RealtyTrac: AZ second again in 3Q foreclosures = Bank Repossessions and Scheduled Auctions Set Quarterly Records While New Defaults Continue to Decline

[mEDITate-OR:

not see that this was then, and it tis not now...

The huge overhang of underwater properties, along with the huge numbers of bad, Alt-A, neg ARMS and subprime RE loans in the sand states, makes this a really ugly map of U.S.

The sad thing is that NOTHING was being done about it.

Until a few Robo-signers got caught, not looking...

What is really sad for the Big lenders/servicer/banks is that when we DID look we found them buying forged docs to try to show courts that they had a "good title" right to foreclose.

So, the ones who WROTE all those bad RE loans are now stuck with them - literally & figuratively.

How sad, how glad, we all can be.

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Nevada, Arizona, Florida post top state foreclosure rates in third quarter

As it has for the past 15 quarters, Nevada continued to document the nation’s highest state foreclosure rate in the third quarter of 2010 despite a year-over-year decline in foreclosure activity. One in every 29 Nevada housing units received a foreclosure filing during the quarter, almost five times the national average. Nevada foreclosure activity increased nearly 1 percent from the previous quarter but was down nearly 20 percent from the third quarter of 2009.

Arizona posted the nation’s second highest state foreclosure rate for the fifth consecutive quarter, with one in every 55 housing units receiving a foreclosure filing
Florida posted the nation’s third highest state foreclosure rate for the fourth consecutive quarter, with one in every 56 housing units receiving a foreclosure filing.

With one in every 70 housing units receiving a foreclosure filing during the third quarter, California documented the nation’s fourth highest foreclosure rate

followed by Idaho, with one in every 86 housing units receiving a foreclosure filing during the quarter. A total of 7,424 Idaho housing units received a foreclosure filing during the quarter, an increase of nearly 20 percent from the previous quarter and an increase of nearly 14 percent from the third quarter of 2009.

Other states with foreclosure rates ranking among the top 10 in the third quarter were Utah, Georgia, Michigan, Illinois and Hawaii.

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U.S. Foreclosure Market Data for Top 10 States – Q3 2010

		Properties with Foreclosure Filings
Rate Rank	State Name	NOD	LIS	NTS	NFS	REO	Total	1/every X HU (rate)	%Change from Q2 10	%Change from Q3 09
--	U.S.	116,349	153,298	243,869	128,576	288,345	930,437	139	3.90	-0.79
1	Nevada	16,845	0	11,234	0	10,350	38,429	29	0.92	-19.81
2	Arizona	36	0	30,743	0	18,324	49,103	55	7.65	-2.46
3	Florida	0	61,745	0	59,240	36,041	157,026	56	12.41	0.06
4	California	80,886	0	63,448	0	46,682	191,016	70	-0.73	-23.61
5	Idaho	2,019	0	3,538	0	1,867	7,424	86	19.74	13.67
6	Utah	3,285	0	3,718	0	3,700	10,703	88	11.91	12.04
7	Georgia	0	0	25,592	0	15,639	41,231	98	8.3	23.5
8	Michigan	10,943	0	16,755	0	18,402	46,100	98	1.43	24.51
9	Illinois	0	21,932	0	12,230	13,640	47,802	110	4.9	28.26
10	Hawaii	186	0	2,504	0	1,370	4,060	126	18.13	48.01