Ronald J. Cappuccio, J.D., LL.M. (Tax)

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Foreclosures still Increasing

| Apr 16, 2008 | foreclosures, houses, taxes

Increasing Foreclosure Rates

Foreclosures were up 57% from March of last year. Approximately 1 in 538 houses in the U.S. are in foreclosure. Nevada has the worst rate with 1 in 139 homes in foreclosure. California has a 1 in 204 foreclosure rate.Nevertheless, since the bulk of the ARM loans were made in 2005 and 2006, the market is clearing out the problem loans through foreclosure, selling, or walking away.
see: http://www.TaxEsq.com

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