Foreclosures Filings Near 4 Million in 2009

“RealtyTrac.com” shows that almost 4 million filings – defaults, foreclosure auctions, and bank reprosessions- took place in 2009 on a national basis.  This is 21% higher than 2008 which was previously the high.  That figure has gone from 885,468 in 2005 to the current figure.  Ironically, it could have been higher had not been for federal action as well as delays in bank processing.  Unfortunately, relief doesn’t look like it is in the immediate future.  Four states accounted for 50% of the 2009 total:  California, Florida, Arizona, and Illinois.

However, for Missouri homeowners, the picture is more encouraging.  Missouri experienced a 8.75% decrease in foreclosures.  One of the reasons being that Missouri never experienced the large swings in home pricing that other states experienced.   I haven’t seen figures on short-sales but will report them when I see them.