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Study: Foreclosure Activity in Hard-Hit Markets Slowed in 2010

by Administrator 27. January 2011 05:02
Foreclosure activity has shown signs of slowing in some of America's hardest-hit markets last year, according to a new report.

A report released by RealtyTrac on Thursday indicates that fewer homes Las Vegas, California, Arizona, and Florida received foreclosure filings in 2010 compared with 2009. Foreclosure filings however, rose on a nationwide basis last year. One in every 45 homes received a foreclosure filing in 2010, according to the study. Foreclosure activity increased in 149 of the nation's 206 areas with a population of 200,000 or more.

Houston, Seattle, and Atlanta saw the biggest increases in foreclosure filings among the 20 largest metro areas. Foreclosures shot up 26 percent in the Houston area in 2010. In Seattle, foreclosures rose 23 percent, and 21 percent in Atlanta.

RealtyTrac CEO James Saccacio said the study indicates that "foreclosure floodwaters receded somewhat in 2010 in the nation's hardest-hit housing markets." He added, "foreclosure levels remained five to 10 times higher than historic norms in most of those hard-hit markets, where deep fault lines of risk remain and could potentially trigger more waves of foreclosure activity in 2011 and beyond."

To speak with an experienced, aggressive Maryland foreclosure defense lawyer regarding your legal rights and options, don't hesitate to contact the law office of Chaifetz & Coyle, P.C., today by calling 443-546-4608.

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