Las Vegas, Nevada, the sight of the worst real estate market crash in US history holds onto its lead as number one, with Foreclosures remaining on average at 900 a day. Nevada has held onto this record for 44 straight months, currently one property in every 84, is somewhere in the foreclosure process. Florida was number two and Arizona is number 3.
But the distinction doesn’t only belong to Nevada, all across the country on average the foreclosures are increasing and are currently running at 25 percent higher than a year ago. So far this year more than 1.65 million homeowners received foreclosure notices during the period of January 2010 and June 2010
Lenders working at a fever pitch have taken back more homes last month than in any month since the US financial crisis began. In August alone, banks repossessed 95,364 properties up 3 percent from July and an increase of 25 percent from August 2009.
At this rate we could see more than 3 million homes foreclosed before January 1, 2011
US Banks have been unwilling to work with borrowers to keep them in their homes
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