mortgage
May 2012: Top 10 states for foreclosure
Foreclosure filings were up 9 percent nationally from April to May. According to RealtyTrac, a California-based firm that tracks foreclosures, these states had the highest rates of foreclosure in May. Nationally, 1 in every 639 housing units received a foreclosure filing last month.
Did your state make the top 10 foreclosure list?
Top 10 Foreclosures by State (as of May 2012)
- National foreclosure filing average: 1:639 housing units.
- National average foreclosure sales price: $198,915.
| States1 | Average price2 | Ratio of foreclosures3 | Rates4 | Income tax5 |
|---|
 | $102,108 | 1:300 | 3.63% | 1% to 6% |
 | $143,669 | 1:305 | 3.66% | 2.59% to 4.54% |
 | $122,646 | 1:313 | 3.63% | None |
 | $249,852 | 1:324 | 3.82% | 1.25% to 10.30% |
 | $106,404 | 1:325 | 3.68% | 5% |
 | $120,458 | 1:340 | 3.71% | None |
 | $68,593 | 1:495 | 3.60% | 0.578% to 5.925% |
 | $76,598 | 1:519 | 3.66% | 4.35% |
 | $90,008 | 1:539 | 3.59% | Up to 7% |
 | $181,015 | 1:592 | 3.61% | 5% |
- 1States: According to RealtyTrac, these states had the highest rates of foreclosure in May.
- 2Average price: The average price of all properties sold during the month that were in some state of foreclosure.
- 3Ratio of foreclosures: Ratio is based on the total number of properties entered into RealtyTrac’s database during the month, broken out by type of filing.
- 4Rates: Average interest rate charged in the state for a 30-year fixed-rate mortgage based on Bankrate.com's June 14, 2012, overnight averages.
- 5Income tax: The range of taxes levied by states on personal income. The tax is based on earned and unearned income.
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