Las Vegas Homeowners: Foreclosure Updates
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Las Vegas Homeowners: Foreclosure Updates

May 23, 2016 08:34 AM

The number of foreclosures in the United States residential state may be slowing, but it is not over according to the experts.

The latest figures shows Las Vegas homeowners that the number of foreclosure filings dropped 2 percent in February but they are still 6 percent high from a year earlier – the smallest annual increase in four years.

More than 308,000 homes or one in every 418 homes received foreclosure filings in February. These include default notices, scheduled auctions and bank repossessions.

The Nevada foreclosure rates were down 7 percent from January and higher than 30 percent last year. Utah, Idaho, Illinois, Georgia and Maryland rounded out the top ten.

Las Vegas is one of the metropolitan areas which have the highest foreclosure rate with one in every 90 homes foreclosure filings. However, foreclosure here decreased 9 percent from the previous month.

The status of foreclosure now is not really the evidence that hundreds of thousands of homeowners are in crisis and at risk, but rather this is a clear proof that the federal government programs are in effect in slowing down the growth rates of foreclosures activity in the country.

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