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


Innovative Strategies For Winning Tax Controversies, Business Structuring And Estate Planning

Foreclosures still Increasing

by | 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.