Friday, February 12, 2010

Foreclosures in Tennessee

According to an article in the Memphis Business Journal (found here), Tennessee ranks No. 26 in the national for its overall foreclosure rate.

There were a total of 3,911 foreclosure filings in the Volunteer State in January, an increase of 6.8 percent compared to January 2009 but a decrease of 17.8 percent compared to the previous month, according to RealtyTrac Inc.’s U.S. Foreclosure Market Report. One in every 705 Tennessee homes received some type of foreclosure filing — default notices, scheduled auctions and bank repossessions — during the month. That ratio is lower than the national average of one in every 409 U.S. homes receiving a filing in January.

For more details, on the national trend, see this article from the AP on Tennessean.com.

No comments: