Las Vegas Sun

January 18, 2018

Currently: 62° — Complete forecast

New foreclosure data highlights Nevada’s horrible year

Not that anyone needs yet another reminder of just how dismal our

foreclosure situation was here last year (and continues to be). But today we

have new numbers that summarize the pain.

RealityTrac, an agency that lists foreclosures, reported Tuesday that Nevada

led the nation in the rate of foreclosure for every single month of 2007.

The state closed the year with 3.4 percent of households entering into some

stage of foreclosure during the year - that's more than three times the

national average. There were a total of 66,316 foreclosure filings on 34,417

properties, a 200 percent increase over 2006.

Nationally, foreclosure rates were up 75 percent over 2006, with 2.2 million

foreclosure filings on nearly 1.3 million properties.

Relief doesn't seem to be coming anytime soon. On Monday, the non-profit

policy organization Center for Responsive Lending came out with a study that

showed that the plan recently negotiated with lenders by the Treasury

Department will prevent just 3 percent of foreclosures nationwide.

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