The worst of the housing downturn appears to be behind us, and while real estate markets around the country are improving, some states are still experiencing a struggle with taming foreclosures. According to RealtyTrac, the number of foreclosed properties stood at 1.8 million last year, down 2.7% from 2011 and 36% from 2010. But despite that, the 10 states that continue to have the highest foreclosure rates in the country still have a long way to go.
24/7 Wall St. identified those states still bogged down with the most number of homes in the foreclosure process. To determine the list, 24/7 used statistics on unemployment, home price changes and how many days in each state the foreclosure process takes. It turns out that one of the biggest reasons foreclosure rates remain high is because of the lengthy foreclosure process. AOL Research
10. Colorado
9. South Carolina
8. Michigan
7. Ohi0
6. California
5 Illinois
4. Georgia
3. Arizona
2. Nevada
1. Florida
The worst of the housing downturn appears to be behind us, and while real estate markets around the country are improving, some states are still experiencing a struggle with taming foreclosures. According to RealtyTrac, the number of foreclosed properties stood at 1.8 million last year, down 2.7% from 2011 and 36% from 2010. But despite that, the 10 states that continue to have the highest foreclosure rates in the country still have a long way to go.
24/7 Wall St. identified those states still bogged down with the most number of homes in the foreclosure process. To determine the list, 24/7 used statistics on unemployment, home price changes and how many days in each state the foreclosure process takes. It turns out that one of the biggest reasons foreclosure rates remain high is because of the lengthy foreclosure process. AOL Research