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Storey County, Nevada ranks number 1 of the top 100 counties in
the nation with the highest percentage of households
facing
foreclosure, according to data provided in RealtyTrac's August 2007
U.S. Foreclosure Market Report.
In August, nationwide totals of 243,947 foreclosure filings were
reported , up 36 percent from the previous month and up 115 percent
from August 2006. This is the highest number of foreclosure filings
in a single month that RealtyTrac has reported since it began
issuing the monthly report in January 2005.
The August report also showed a national foreclosure rate of one
foreclosure filing for every 510 households for the month; the
highest national ratio ever issued by the foreclosure tracking
company.
For the 4074 residents of Storey County the ratio is even more
alarming. One of every 70.20 households in Storey County is facing
foreclosure. The county is home to 1755 homeowners.
Statewide, Nevada continued to register the nation’s highest
state foreclosure rate, one foreclosure filing for every 165
households — more than three times the national average. The state
reported 6,197 foreclosure filings
foreclosure filings during the month, a 21 percent
increase from the previous month and more than triple the number
reported in August 2006.
With 1755 households and total foreclosure filings in August
reaching 25, Storey County is one of 4 counties in Nevada to make
the national list for counties with the highest foreclosure rates.
It is unclear what may have caused the spike in foreclosure
activity in Storey County but nationwide one thing is clear. The
situation is a crises for homeowners with mortgages they can no
longer afford AND an unprecedented opportunity for investors and
home buyers. The resources listed below will help you protect your
home, lower or cancel your mortgage, or find a new home at a price
no one could have imagined just a few years ago. |
