14 States That Continue To Get Crushed By Foreclosures

foreclosure map

Photo: RealtyTrac

Foreclosure filings across the U.S. declined four per cent in March from the previous month, and fell 17 per cent from a year ago, according to the latest data from RealtyTrac.Moreover, Q1 foreclosures were down 16 per cent from a year ago.

Click here to see the 14 worst states for foreclosures >

But there is still supposed to be a tidal wave of foreclosures coming this year:

“The low foreclosure numbers in the first quarter are not an indication that the massive reservoir of distressed properties built up over the past few years has somehow miraculously evaporated,” said Brandon Moore, chief executive officer of RealtyTrac.

“There are hairline cracks in the dam, evident in the sizable foreclosure activity increases in judicial foreclosure states over the past several months, along with an increase in foreclosure starts in many judicial and non-judicial states in March. The dam may not burst in the next 30 to 45 days, but it will eventually burst, and everyone downstream should be prepared for that to happen — both in terms of new foreclosure activity and new short sale activity.”

We went through RealtyTrac’s data and ranked the 14 states with the highest foreclosure rates in March 2012.

Note: Rankings are based on the foreclosure rate, not total foreclosure filings. Foreclosure rate is defined as a foreclosure filing for 1 in every x homes. The number of foreclosure properties are for the month of March.

Iowa

1 in every 804 homes received a foreclosure filing in March 2012

Foreclosure properties: 1,663

Q1 2012 foreclosure filings were up 5.67 per cent from a year ago

Source: RealtyTrac

Indiana

1 in every 696 homes received a foreclosure filing in March 2012

Foreclosure properties: 4,016

Q1 2012 foreclosure filings were up 45.27 per cent from a year ago

Source: RealtyTrac

South Carolina

1 in every 629 homes received a foreclosure filing in March 2012

Foreclosure properties: 3,396

Q1 2012 foreclosure filings were up 25.54 per cent from a year ago

Source: RealtyTrac

Ohio

1 in every 609 homes received a foreclosure filing in March 2012

Foreclosure properties: 8,421

Q1 2012 foreclosure filings were down 3.71 per cent from a year ago

Source: RealtyTrac

Colorado

1 in every 591 homes received a foreclosure filing in March 2012

Foreclosure properties: 3,742

Q1 2012 foreclosure filings were down 16.45 per cent from a year ago

Source: RealtyTrac

Wisconsin

1 in every 578 homes received a foreclosure filing in March 2012

Foreclosure properties: 4,538

Q1 2012 foreclosure filings were up 8.08 per cent from a year ago

Source: RealtyTrac

Michigan

1 in every 489 homes received a foreclosure filing in March 2012

Foreclosure properties: 9.262

Q1 2012 foreclosure filings were down 25.22 per cent* from a year ago

*Note: Actual decrease may not be as big because of the expiration of August 2009 law requiring notice of defaults (NODs) to be filed.

Source: RealtyTrac

Utah

1 in every 415 homes received a foreclosure filing in March 2012

Foreclosure properties: 2,363

Q1 2012 foreclosure filings were down 48.88 per cent from a year ago

Source: RealtyTrac

Illinois

1 in every 383 homes received a foreclosure filing in March 2012

Foreclosure properties: 13,820

Q1 2012 foreclosure filings were up 13.80 per cent from a year ago

Source: RealtyTrac

Georgia

1 in every 361 homes received a foreclosure filing in March 2012

Foreclosure properties: 11,322

Q1 2012 foreclosure filings were down 8.73 per cent from a year ago

Source: RealtyTrac

Florida

1 in every 336 homes received a foreclosure filing in March 2012

Foreclosure properties: 26,758

Q1 2012 foreclosure filings were up 25.76 per cent from a year ago

Source: RealtyTrac

California

1 in every 303 homes received a foreclosure filing in March 2012

Foreclosure properties: 45,122

Q1 2012 foreclosure filings were down 20.94 per cent from a year ago

Source: RealtyTrac

Nevada

1 in every 301 homes received a foreclosure filing in March 2012

Foreclosure properties: 3,899

Q1 2012 foreclosure filings were down 61.50 per cent from a year ago

Source: RealtyTrac

Arizona

1 in every 300 homes received a foreclosure filing in March 2012

Foreclosure properties: 9,497

Q1 2012 foreclosure filings were down 41.46 per cent from a year ago

Source: RealtyTrac

Now here are the 12 states with the most underwater mortgages...

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