PROVIDENCE – The number of foreclosure notices filed in Rhode Island in January declined almost 13 percent compared with a year earlier, real estate tracking firm RealtyTrac Inc. said Thursday.
One out of every 696 homes in the Ocean State received a foreclosure notice in January, bucking the national trend of year-over-year increases, the Irvine, Calif.-based firm said. The number of notices also fell 5 percent from the prior month, RealtyTrac said.
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Nationally, one in every 409 homes received a foreclosure notice in January, up 15 percent from a year earlier but down 10 percent from December, RealtyTrac said.
“January foreclosure numbers are exhibiting a pattern very similar to a year ago: a double-digit percentage jump in December foreclosure activity followed by a 10 percent drop in January,” RealtyTrac Chief Executive James J. Saccacio said in a news release.
“If history repeats itself we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs or the new short sale and deed-in-lieu of foreclosure alternatives work,” he said.
Nevada’s foreclosure rate remained highest among the states for the 37th month in a row. One in every 95 Nevada housing units received a foreclosure filing during the month — more than four times the national average. Other states hit hard included Arizona, California and Florida.
Additional information is available at realtytrac.com.
