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Nevada Not #1 In Foreclosures

But Still A Lot Of Underwater Mortgages
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(KXNT File Photo)

(KXNT File Photo)

Nate Tannenbaum Nathan Tannenbaum
Email Nathan at nathan.tannenbaum@cbsradio.com
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(Las Vegas, NV) – Nevada is no longer number one in the nation in foreclosures.

But while there has been a drop in action on underwater mortgages, it’s still a big issue here.

The real estate information company, RealtyTrac, is out with it’s look at last month’s foreclosure numbers and it reports that Nevada saw fewer of them last month, but that our rate is still among the highest in the nation.

RealtyTrac says one out of every 407 housing units in the Silver State got some kind of a foreclosure-related filing in October.

That’s down 39-percent from September and a 15-percent drop from October 2012.

After leading the nation in foreclosures in August in September, RealtyTrac reports we fell to number two last month, with Florida taking over the top spot on the dubious list.

RealtyTrac Vice-President Darren Bloomquist tells KXNT that the impending implementation of the state’s “Homeowner’s Bill Of Rights” on October 1st caused a rush of foreclosure filings in the previous two months.

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