Foreclosures Up in Metro Areas
Yahoo News is reporting that the foreclosure crisis has intensified across a majority of large U.S. metropolitan areas this summer. California, Nevada, Florida and Arizona remain the nation's foreclosure hotbeds, accounting for 19 of the top 20 metropolitan areas with the highest foreclosure rates between July and September, foreclosure listing firm RealtyTrac Inc. said Thursday. But the latest data show that many of the metro areas in those states saw a decline in the number of households receiving foreclosure-related filings, while many cities in other states saw a spike in foreclosure activity. What does this mean? The nation's foreclosure crisis is worsening. In all, 133 out of 206 metropolitan areas with at least 200,000 residents posted an annual increase in foreclosure activity in the three months ending Sept. 30, RealtyTrac said. Don't be fooled by news reports that banks are halting foreclosures -- they are merely reviewing the information and adhering to laws and regulations with which they failed to comply. Foreclosures are continuing and will continue until there is a consistent uptick in the economy and job creation.
Read more at Yahoo News.