Connecticut’s foreclosure rate in January was up more than 30% from the same time last year. That’s despite a modest drop from the end of 2009. WNPR’s Harriet Jones reports.
The figures, from RealtyTrac show that one in every 651 homes in Connecticut received some type of foreclosure notice in January, below the national rate of one in every 409 homes. The number of foreclosures showed a drop of almost 9% from December, but it’s 34% higher than the same month of 2009. That’s more than twice the year-over-year increase seen nationwide.
RealtyTrac experts say there may be more to come – last year at this time, there was a surge of foreclosure activity as lenders foreclosed on loans where modifications or short sales had failed. They say unemployment also continues to have an impact on rising foreclosure figures.
Nevada remains the state with the highest foreclosure rate in the nation, with one in every 95 homes receiving a filing. California, Florida and Arizona also continue to be among the worst affected states – between them the three account for more than 44% of the national total of foreclosures in January. Connecticut ranked 21st in the nation in terms of its foreclosure rate.
For WNPR, I'm Harriet Jones.