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Nye County, Nevada ranks number 100 of 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, 243,947 foreclosure filings were reported nationwide;
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 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 homeowners in Nye County the ratio is even more alarming. One
of every 300.87 households in the county is now facing foreclosure.
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 during the month, a 21 percent
increase from the previous month and more than triple the number
reported in August 2006.
With 16548 households and total foreclosure filings in August
reaching 55, Nye County is one of 4 counties in Nevada to make the
national list for counties with the highest foreclosure rates.
Although it is unclear what may have caused foreclosure activity
in Nye County to spike, one thing is clear. The situation is a
national crises for homeowners with mortgages they can no longer
afford AND an unprecedented opportunity for investors and home
buyers.
The resources listed below may help you protect your home, lower
and even cancel your mortgage, or find a new home at a price no one
could have imagined just a few years ago.
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