America's 100 Most Foreclosure Prone Counties

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.

The Housing and Economic Recovery Act of 2008 created a new program to help families who act quickly to save their homes from foreclosure. Even wealthy borrowers in upscale neighborhoods may qualify under the new rules but wading through the bureaucracy can be frustrating. Lending Tree's online tool cuts through the red tape and tells you in an instant if you qualify for the new FHA-backed programs. Interested homeowners can

Recent class action lawsuits and court decisions make it possible for victims of predatory or deceptive lending and other forms of consumer fraud to receive compensation that can amount to a complete cancellation of deceptive mortgages. You may be a victim of consumer fraud and not even know it. Only a qualified attorney can tell you for sure.

Click here for legal help and a free evaluation of your possible case

RealtyTrac.com publishes nearly 1 Million properties from nearly 2,500 counties nationwide, and are the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, The Wall Street Journal’s Real Estate Journal and News for Public Officials. Start your free search for foreclosures and find homes for half the price.