Georgia Finally Out Of Top 10 Foreclosure States Ranking!

Foreclosure activity continued to subside nationwide in February, reaching an 11-year-low, and for the first time in years, Georgia is out of the top 10 foreclosure ranking!

Ten states, as well as the District of Columbia, saw a rise in filings on a year-over-year basis. New Jersey, already among the states foreclosure has hit hardest, experienced a 16% year-over-year increase in filings, the biggest in the country.  The national trend remained positive, however.  Foreclosure starts were down 13% in February from the prior year, the 20th consecutive month with a year-over-year drop.

Bank repossessions, which accounted for the largest share of foreclosure activity, has been on a downward trend, as home price continue to rise to pre-crash level at 2007.

Here are the 10 states that had the highest foreclosure rates in February:

10. Pennsylvania

February 2017 foreclosure rate: 1 in every 1,406 housing units
Change from January 2017: up 1.25% (was No. 11)
Change from February 2016: down 11.79% (was No. 12)

9. Florida

February 2017 foreclosure rate: 1 in every 1,194 housing units
Change from January 2017: down 2.74% (was No. 6)
Change from February 2016: down 31.2% (was No. 6)

8. South Carolina

February 2017 foreclosure rate: 1 in every 1,176 housing units
Change from January 2017: up 4.46% (was No. 8)
Change from February 2016: down 5.76% (was No. 9)

7. Connecticut

February 2017 foreclosure rate: 1 in every 1,167 housing units
Change from January 2017: up 4.16% (was No. 7)
Change from February 2016: down 9.1% (was No. 8)

6. Ohio

February 2017 foreclosure rate: 1 in every 1,088 housing units
Change from January 2017: up 18.43% (was No. 10)
Change from February 2016: down 4.8% (was No. 7)

5. Nevada

February 2017 foreclosure rate: 1 in every 1,083 housing units
Change from January 2017: down 10.56% (was No. 5)
Change from February 2016: down 32.45% (was No. 3)

4. Illinois

February 2017 foreclosure rate: 1 in every 888 housing units
Change from January 2017: up 7.6% (was No. 4)
Change from February 2016: down 9.79% (was No. 5)

3. Maryland

February 2017 foreclosure rate: 1 in every 750 housing units
Change from January 2017: up 12.26% (was No. 3)
Change from February 2016: down 31.6% (was No. 1)

2. Delaware

February 2017 foreclosure rate: 1 in every 664 housing units
Change from January 2017: up 25.3% (was No. 2)
Change from February 2016: up 14.08% (was No. 4)

1. New Jersey

February 2017 foreclosure rate: 1 in every 583 housing units
Change from January 2017: up 12.62% (was No. 1)
Change from February 2016: up 16.18% (was No. 2)

Source from: Credit.com