About UPI  |  UPI en Español   |   My Account
Free News Update:
United Press International - News. Analysis. Insight.™ - 100 Years of Journalistic Excellence
  • Home
  • Top News
  • Entertainment
  • Odd News
  • Sports
  • Business
  • Science
  • Health
  • Analysis
    • Energy Resources
    • Security Industry
    • Emerging Threats
  • Video
  • News Photos
Search:
Go
Bookmark this Page
You are here:  Home / Business News / U.S. foreclosures surged in January

Business News

View archive | RSS Feed

U.S. foreclosures surged in January

Published: Feb. 26, 2008 at 2:44 PM
Order reprints  |  Print Story  |  Email to a Friend  |  Post a Comment
Close
NEW YORK, Feb. 26 (UPI) -- Foreclosure rates in the United States jumped 57 percent in January compared with figures from a year ago, RealtyTrac reported Tuesday.

The study showed 233,001 homes in the United States were subject to foreclosure last month, up 8 percent from December.

The monthly figure is "not as precipitous as the 19 percent spike we saw in January of 2007," said James J. Saccacio, chief executive officer of RealtyTrac.

Saccacio said several states experienced declines in their monthly foreclosure rates, which could mean "some of the efforts on the part of lenders and the government ... are beginning to take effect."

Nevada, where a housing boom of recent years has crashed, saw the highest foreclosure rate, the report said. The monthly rate of foreclosures in Nevada dropped 45 percent, but remained 95 percent above its rate a year ago. In Nevada, 6,087 homeowners suffered foreclosure last month.

California's rate ranked second in the nation, followed by Florida.

The top ten states for foreclosures included Arizona, Colorado, Massachusetts, Georgia, Connecticut, Ohio and Michigan.



© 2008 United Press International, Inc. All Rights Reserved.
News Photos Slideshows
Photos of the Day
Week in Photos
News
Entertainment
Sports
Features
Most Popular
Stories
Photos
Videos
1.
Chicago reels in brewer for $20 million
2.
Oil prices drop further Thursday
3.
Crude oil prices fall again Friday
4.
IRS mails batch of stimulus checks
5.
Crude oil prices drop on inventory news
Advertise on UPI.com
Videos
Enlarge Video
Get the Flash Player to see this player.
Veterans and public divided on strategy in Iraq
Friday, July 18
President hopeful about economy
President hopeful about economy
Friday, July 18
Muslim Americans in public service
Muslim Americans in public service
Monday, July 14
Home funerals: Tending to their own
Home funerals: Tending to their own
Thursday, July 3
© 2008 United Press International, Inc. All Rights Reserved. Official_Government_Wires  |   About UPI  |   Site Map  |   Terms of Use  |   Privacy Policy  |   Advertise Online  |   Contact Us

Sponsored Links: College Football Tickets - Wedding and Honeymoon Experts - Auto Dealers - Conventions - Trade Shows - Conferences - Motivational Sports Speakers Bureau - Real Estate Properties in the world