20 Cities Where Foreclosures Are A Huge Problem

foreclosure

Photo: Ethan Miller/Getty Images

Foreclosure filings in the U.S. declined by 2 per cent in February from the previous month.  Filings are down 8 per cent from a year ago.But the latest U.S. foreclosure market report from RealtyTrac shows that 10 of the nation’s 20 largest metro areas saw year-over-year increase in foreclosure activity.

RealtyTrac’s Daren Blomquist explains that foreclosure activity is increasing as some states use the judicial process where each foreclosure becomes a court case:

“The foreclosure process became more bogged down in these states as a result of the fallout from the robo-signing scandal, causing foreclosure activity to drop to artificially low levels in 2011. Now we’re seeing some pretty eye-popping increases off those artificially low levels and the foreclosure industry plays catch up.”

Drawing on RealtyTrac data we put together a quick guide to the foreclosure activity in the 20 largest metropolitan areas across the U.S.. The metros that saw increases in foreclosure activity were mostly on the East Coast or the Midwest, while those in the West saw decreases.

And the outlook for 2012 isn’t much better, “More waves of foreclosure rolling into the market over the course of the year, which will result in an overall increase of 15 per cent in foreclosure activity for the year compared to 2011.”

Note: All data is for the 20 largest metros. Data for properties with foreclosure filings is for February 2012.

#20 New York

1 in every 3,439 homes received a foreclosure filing in December 2011

Properties with foreclosure filings:
2,189

Change from Feb 2011:
-40.50%

Change from Jan 2012:
-11.38%

Source: RealtyTrac

#19 Baltimore

1 in every 1,622 homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
698

Change from Feb 2011:
+41.01%

Change from Jan 2012:
+32.45%

Source: RealtyTrac

#18 Boston

1 in every 1,403 homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
1,342

Change from Feb 2011:
+20.47%

Change from Jan 2012:
-15.70%

Source: RealtyTrac

#17 Seattle

1 in every 1,229 homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
1,191

Change from Feb 2011:
-58.75%

Change from Jan 2012:
-16.54%

Source: RealtyTrac

#16 Washington

1 in every 1,198 homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
1,848

Change from Feb 2011:
+6.57%

Change from Jan 2012:
+2.50%

Source: RealtyTrac

#15 Philadelphia

1 in every 828 homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
2,940

Change from Feb 2011:
+47.15%

Change from Jan 2012:
-6.10%

Source: RealtyTrac

#14 Dallas

1 in every 724 homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
3,457

Change from Feb 2011:
-13.85%

Change from Jan 2012:
+4.06%

Source: RealtyTrac

#13 Houston

1 in 689 every homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
3,351

Change from Feb 2011:
+1.42%

Change from Jan 2012:
+9.62%

Source: RealtyTrac


#12 St. Louis

1 in every 669 homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
1,866

Change from Feb 2011:
+17.58%

Change from Jan 2012:
+20.54%

Source: RealtyTrac


#11 Minneapolis

1 in every 580 homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
2,335

Change from Feb 2011:
+23.28%

Change from Jan 2012:
-13.84%

Source: RealtyTrac

#10 San Francisco

1 in every 388 homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
4,489

Change from Feb 2011:
-7.94%

Change from Jan 2012:
-1.25%

Source: RealtyTrac

#9 Los Angeles

1 in every 353 homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
12,731

Change from Feb 2011:
-17.89%

Change from Jan 2012:
-8.88%

Source: RealtyTrac

#8 San Diego

1 in every 342 homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
3,403

Change from Feb 2011:
-8.84%

Change from Jan 2012:
-10.40%

Source: RealtyTrac

#7 Detroit

1 in every 332 homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
5,687

Change from Feb 2011:
-27.66%

Change from Jan 2012:
-17.11%

Source: RealtyTrac

#6 Tampa

1 in 315 every homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
4,295

Change from Feb 2011:
+64.12%

Change from Jan 2012:
+37.53%

Source: RealtyTrac

#5 Chicago

1 in every 302 homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
12,587

Change from Feb 2011:
+43.23%

Change from Jan 2012:
-8.46%

Source: RealtyTrac

#4 Miami

1 in every 264 homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
9.333

Change from Feb 2011:
+52.75%

Change from Jan 2012:
+9.92%

Source: RealtyTrac

#3 Phoenix

1 in 259 every homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
6,951

Change from Feb 2011:
-42.88%

Change from Jan 2012:
+4.35%

Source: RealtyTrac

#2 Atlanta

1 in every 244 homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
8,859

Change from Feb 2011:
-4.50%

Change from Jan 2012:
+2.46%

Source: RealtyTrac

#1 Riverside-San Bernardino

1 in every 166 homes received a foreclosure filing in February 2012

Properties with foreclosure filings:
9.057

Change from Feb 2011:
-10.89%

Change from Jan 2012:
-1.14%

Source: RealtyTrac

Now look at American states where homeowners mortgages are underwater...

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