For some time now, Indiana has been one of the states at the forefront of the foreclosure epidemic that has been sweeping the nation, but now it seems that Indiana foreclosures may finally be on the way back down. As of December 2007, the total number of Indiana foreclosure homes was down 8% from the same time during December of 2006. This drop, while only in the single digits, is quite remarkable, considering that the national foreclosure index increased greatly during 2007. Some reports have the national foreclosed houses inventory increasing by nearly 90%.

New York Foreclosures Increasing Rapidly, Experts Predict More to Come
While many states have experienced huge booms in foreclosures over the past year that are now showing signs of either evening out or beginning to drop off, New York foreclosures seem to be doing the opposite. In 2006, the total amount of New York foreclosure homes was enough to make New York the state with the fifth highest foreclosure rate in the country. Many weren’t sure where the market was going to go from there, but in 2007, it got decidedly worse.

New Jersey Foreclosure Homes Rising, Appearing in Suburbs
Following the trend of the rest of the country, New Jersey foreclosures rose in 2007, although the New Jersey foreclosure homes situation isn’t quite as bad as many other states. New Jersey currently ranks as number 16 among states with the worst foreclosure property rates, and its problems are blamed largely on the sub-prime mortgage crisis.

Michigan Foreclosures Rise to High Levels in 2007, Aided By Soaring Number of Detroit Foreclosure Homes
The statistics for Michigan foreclosures received a huge boost from the Detroit metropolitan area during 2007, new reports indicate. Detroit foreclosures rose more than 107% between December of 2006 and December of 2007, worsening the city and the state’s already worrisome foreclosure crisis. Michigan foreclosure homes rates have consistently been among the top 5 states in the nation over the past few years, and 2007 secured it as one of the worst areas in the country for home foreclosures.

Colorado Foreclosures Hit Record High Once Again
After 2006, many thought the Colorado foreclosures couldn’t get much worse. During that year, the state experienced a 30% increase in the amount of defaults filed since 2005, and although many expected they hadn t seen the end of this trend, few could predict what was to come in 2007. Only nine months into the year, the number of Colorado foreclosure homes matched the total for the previous year, topping out at over 28,950 homes entering some stage of foreclosure or default.

This entry was posted on Wednesday, February 6th, 2008 at 12:57 am and is filed under Real Estate Listings. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.