Foreclosures soared by nearly two-thirds in the Northeast last year, while the Southeast recorded a smaller surge of 37%, according to ForeclosureS.com, a Fair Oaks, Calif.-based investment advisory firm.The foreclosure spike of 64.6% in the Northeast was fueled by "a fourth-quarter filings scramble" in the New York and Boston metropolitan areas and across northern New Jersey, the company reported. Massachusetts led the way, as foreclosure filings skyrocketed 184.3%, from 8,489 in 2005 to 24,137 in 2006. The region recorded 96,101 filings in 2006, compared with 58,394 in 2005. In the Southeast, a similar "year-end scramble" helped boost foreclosure filings well over 200,000. The region ended the year with 220,189 filings, compared with 160,259 in 2005, according to ForeclosureS.com. Despite the jump, Florida yielded its distinction of leading the nation in foreclosures to California, finishing the year with 120,989 filings (a 26.8% rise), compared with 157,417 for California. The company can be found online at http://www.foreclosures.com.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry