PROVIDENCE – The number of foreclosure notices in Rhode Island increased 55 percent in April compared with the same month last year, RealtyTrac Inc. said Thursday.
The Irvine, Calif.-based real-estate tracking firm said 861 properties in Rhode Island, or one in every 525 homes, received a foreclosure notice last month. The state’s foreclosure rate ranked 19th-highest among the 50 states.
Beyond Cash Donations: How New Forms of Giving Are Transforming Not-for-Profit Accounting
Evolving Funding Landscape for Not-for-Profits Not-for-profit organizations are being asked to do more with less,…
Learn More
The number of notices filed in Rhode Island in April also increased 19 percent compared with March, RealtyTrac said.
Nationally, RealtyTrac said one in every 387 homes received a notice in April, a drop of 2.4 percent from a year ago and down 9 percent from March 2010.
“There were two important milestones in the April numbers that show foreclosure activity has begun to plateau – but at a very high level that will not drop off in the near future,” said RealtyTrac CEO James J. Saccacio.
April was the first month in the history of RealtyTrac’s records that showed a year-over-year decrease in U.S. foreclosure activity, Saccacio said. Default notices dropped, but the number of bank repossessions hit a record monthly high.
Nevada’s foreclosure rate remained highest among the states for the 40th month in a row. One in every 69 housing units there received a foreclosure filing during the month – more than five times the national average. Other hard-hit states were Arizona, California and Florida.
Additional information is available at realtytrac.com.
