Nevada foreclosure rate down, but still top in US

AP News
Posted: Feb 16, 2012 12:17 PM
Nevada foreclosure rate down, but still top in US

Nevada has posted the nation's highest foreclosure rate for 61st month in a row, even though foreclosure activity is down 52 percent from a year ago.

Foreclosure tracking firm RealtyTrac says Thursday that 5,931 properties in the state had a foreclosure filing in January. That's a 52-month low.

The pace of Nevada foreclosures took a dive when a state law took effect in October requiring lenders to provide more documentation to foreclose.

Las Vegas has the 5th highest foreclosure rate among metro areas with a population of 200,000 or more. One in every 172 properties got a filing in January.

Nine of the ten other areas on that list are in California, with the central valley city of Stockton claiming the top spot for the fourth month in a row.

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