NV and CA Continue to Report Record Foreclosures
Despite a 26% decrease in foreclosure activity from September, Nevada still held the nationís highest state foreclosure rate in October. A total of 13,842 Nevada properties received a foreclosure filing during the month, a 4% decrease from October 2008.
Nevada default notices were down 10% from a year ago, and scheduled foreclosure auctions were down 6% from October 2008, while bank repossessions were up 8% from October 2008.
California posted a total of 85,420 properties with a filing, 50% above the total reported in October 2008. The stateís default notices and scheduled foreclosure auctions were up 120% and 73% from a year ago.