The media has been telling all that would listen that the housing market is improving due primarily to low interest rates. But The Center for Responsible Lending says 8.1 million Americans are at risk of losing their homes to foreclosure over the next four years. During the second quarter of 2012, 23% of home sales were in foreclosure or bank owned.
According to Realtytrac.com, lenders filed 1 million foreclosure notices in the first half of 2012, up 2% from the previous six months. Most of the uptick is due to a court settlement in April 2012 on the robo-signing foreclosure complaint that delayed many 2011 foreclosures and pushed them into 2012. With 1 in 57 homes in some state of foreclosure, Nevada still leads the nation in the first half of 2012. Arizona, Georgia, California and Florida round out the top 5 foreclosure states.
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