In a grim survey of the nation's housing status quo, Bloomberg reports new foreclosure filings rose 81% nationwide in 2008 and more than 2.3 million properties were seized or received a foreclosure notice. In Nevada, the state with the highest foreclosure filing rate (7.3%), over 77,000 properties were impacted. Although Florida and California posted lower overall filing rates, the total number of properties under some stage of foreclosure in those states lead the nation at 385,309 and 523,624, respectively. While California has the most cities in the foreclosure metro ranking, Fort Lauderdale, Orlando and Miami all made the Top 10. Bloomberg says the incoming administration may tap the remaining $350 billion in federal TARP funds in an effort to lower mortgage payments for distressed homeowners nationwide. Thursday, January 15, 2009
Record Foreclosure Rate In 2008
In a grim survey of the nation's housing status quo, Bloomberg reports new foreclosure filings rose 81% nationwide in 2008 and more than 2.3 million properties were seized or received a foreclosure notice. In Nevada, the state with the highest foreclosure filing rate (7.3%), over 77,000 properties were impacted. Although Florida and California posted lower overall filing rates, the total number of properties under some stage of foreclosure in those states lead the nation at 385,309 and 523,624, respectively. While California has the most cities in the foreclosure metro ranking, Fort Lauderdale, Orlando and Miami all made the Top 10. Bloomberg says the incoming administration may tap the remaining $350 billion in federal TARP funds in an effort to lower mortgage payments for distressed homeowners nationwide. 
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