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.
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.
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
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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