January foreclosures up 57%

In January foreclosures in the whole nation has jumped high. The jump is 57 percent in comparison to the numbers last year same month. It was revealed by a study done by a foreclosure properties online marketer. In total 233,001 houses were affected by foreclosure, which was 8% more than the December numbers, of which 45,327 houses were repossessed by the banks.

Nevada, California and Florida are the areas where foreclosure has hit badly. These places saw a high price rises during the housing boom. Nevada residents saw one in every 167 homes in foreclosure last month. California had the highest number of foreclosures in the country. It recorded 57,000 foreclosure filings, which means one in every 227 homes in the area. Florida had a foreclosure filing of 30,000. The rate of foreclosure was one in every 273 households.

During the time several states found the foreclosure numbers rising very high.

Rhode Island numbers has risen      279%

Maryland numbers gone up to         430%

Virginia numbers leapt                             634%

In stead of such a huge jump, these states had a rate far lower than Nevada, California and Florida.

Since January, the states are improving a lot. The following drops have been recorded in the states

Pennsylvania -         Foreclosure down by 55% to 1,683

West Virginia  Foreclosure down by 54% to 53

Vermont                  Foreclosure down by 50% to 1

The reducing foreclosure in some of the states may be a result of the steps taken by the lenders and the government. But one big question is whether the effects are for the long term. Many people question whether such efforts are really helping the homeowners in the long run or they are giving homeowners some time only.