What States had the Highest Foreclosure Rates in 2015?
Thirty-three states in the U.S. saw increases in foreclosures over the 3rd quarter last year. The U.S. as a whole saw a 3 percent year-over-year increase. This increase in foreclosure activity is partly due to the backlog of foreclosures in States with legal red tape. This has held much of this foreclosure activity back for many years in several U.S. States. In States like New Jersey, with foreclosure timelines of over 1,000 days, there is a large backlog of foreclosures. This has put New Jersey at the top of the list of States with the highest rates of foreclosure in 2015, along with some other States with the same legal red tape as New Jersey. So what U.S. States had the highest rates of foreclosure this year?
- New Jersey
- Florida
- Nevada
- Maryland
- Illinois
Many of you reading this were probably not surprised to see these States on the list. Some other States on the list are New Mexico, Ohio, and Georgia.
Most Popular Reply
Yes Maryland instituted lots of regulations to "Protect" consumers. Now 7 years after the crash people are still stuck in limbo about to lose their homes while in other parts of the country people lost there homes and are already getting back on track. I believe even bankruptcy and foreclosures only stay on your record for 7 years. They would be coming off now if the state hadn't "protected" people.