This great piece of data comes thanks to The Real Estate Bloggers. With close to a 1% foreclosure rate, Indiana leads the nation with highest percentage of properties foreclosed upon. Followed by Ohio and Michigan, Indiana is just the first state to show the results of bad lending policies and risky mortgages. It won’t be long before other states follow Indiana’s lead here, sadly.
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{ 5 comments… read them below or add one }
Knowing the real value of your home is the first step in not getting foreclosed, escpecially with Foreclosure up 45% in January alone.
That’s funny, I thought Georgia would have ranked up at the top of the list. In just the Metro Atlanta area here we have over 3,000 foreclosures every month.
This blog posting was of great use in learning new information and also in exchanging our views. Thank you.
Mary Anne Martin
I believe Ohio and Indiana swap from month-to-month for the leading state in foreclosures. I think it is more the economy and jobs (lack thereof) that contribute highly to foreclosure rates. Ohio is/was the 47th in the union in for job-creation. Another factor is that many Americans are just living in the here-and-now, satisfying their immediate gratification by running up charge-cards, refinancing their home to buy a Harley, or a boat or a plasma TV. Credit card debt keeps on increasing at a rampant pace. ARMs and option-ARMs are catching up with home-owners. Just many, many factors involved.
Yeah I definitely agree that Indiana and Ohio are in a close battle for the highest rate of foreclosure.