The rate at which lenders foreclosed on mortgages in Hawai’i fell 94 percent in the third quarter from a year earlier, the biggest drop in in the nation, according to figures released yesterday by RealtyTrac, an online foreclosure property marketplace.

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Georgia had the fourth-highest foreclosure rate in the United States in the third quarter, according to RealtyTrac’s Q3 2006 U.S. Foreclosure Market Report.

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With the steady rise of interest rates and the proliferation of “creative” mortgages, lending institutions are finding their loan portfolios exposed to greater risk of moving into foreclosure — a complicated, time-consuming and expensive process for banks and loan servicers.
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HUD will hold sale for subsidized apartments Monday

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Colorado posted the highest foreclosure rate in the country for the second consecutive quarter, with one new foreclosure filing for every 127 households from July to September, according to RealtyTrac, a California provider of foreclosure listings.

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