KXNT_35x90 cbssports1140-horizontal-small

News

Foreclosure Starts Jump 300% In Nevada

View Comments
(photo: MARK RALSTON/AFP/Getty Images)

(photo: MARK RALSTON/AFP/Getty Images)

tate south Tate South
Email Tate at tate.south@cbsradio.com
Read More

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

(Las Vegas, NV) — Foreclosures are decreasing across the country and bank reposessions are at a 65 month low.  Locally, the trend is moving in the opposite direction.

Foreclosure starts are up over 300 percent in Nevada compared to a year ago, and are at a 17 month high, according to RealtyTrac’s Q1 2003 Foreclosure Sales Report.

Experts say state legislation from October 2011 created a log jam of paperwork, delaying foreclosures. Lenders are now playing catch-up.

RealtyTrac’s Daren Blomquist warns these foreclosure filings will most likely turn into actual reposessions by the end of 2013.

For a complete look at the report, visit RealtyTrac’s website.

View Comments
blog comments powered by Disqus