Las Vegas Sun

October 31, 2014

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Nevada continues to lead nation in foreclosure filings

Foreclosure filings in Nevada fell in October, led by default notices dropping 17 percent, but the state recorded its first year-over-year increase since September 2009, according to a report released by California-based RealtyTrac.

Nevada continued to lead the nation in terms of filings per household with one filing for every 79 homes, RealtyTrac reported. That is down 13 percent from September but up 2.6 percent from October 2009, the firm reported.

Nationally, foreclosure filings fell 4.4 percent between October and November because of a lenders’ moratorium on taking possession of homes because of a controversy over information failing to be verified, RealtyTrac reported. That could lead to another decline in November, the firm reported.

Nevada’s filings, however, were five times the national average. There were 5,334 notices of default filed and 3,198 homes repossessed.

In Las Vegas, the metropolitan area posted the highest rate in the country again, even though filings increased less than 1 percent from October 2009. One in every 70 housing units had a filing.

Reno was ranked No. 9 with one filing for every 122 households. Cape Coral-Fort Myers in Florida ranked No. 2. California had five metropolitan areas in the top 10, including the Inland Empire at No. 4.

Among states, Florida ranked second after Nevada, followed by Arizona, California, Michigan and Utah.

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  1. You have to see the silver lining sometimes.

    Fewer of the nation's dumbest people are buying houses...just being thrown out of them.

    Shelter is one of the four basic survival needs.

    But that is an old, dated mode of thought.

    It was an ancient era, when people's survival was actually a daily concern...an era that didn't understand that a successful. thriving economy just doesn't need ALL THESE PEOPLE.

    Removing shelter is the first and best way to begin a long overdue, culling process.

    We have way, way too many dumb people and they're breeding another generation of dummies.

    Yes, it's time...it's culling time.

    Las Vegas will make an excellent "killing zone model" for the rest of the nation.

    We must lead the others down the golden path of enlightenment.

    God bless America (except for Mexico and New Jersey, of course)

  2. At the risk of sounding like a broken record --

    "If you're going to take my house away from me, you better own the note." -- Joe Lents (who hasn't made a payment on his $1.5 million mortgage since 2002) in Bloomberg's 2/22/08 "Banks Lose to Deadbeat Homeowners as Loans Sold in Bonds Vanish"