Released on January 9th, RealtyTrac’s 2011 Year-End Foreclosure Report reveals that the State of Idaho continues to rank in the top 20 states with the highest foreclosure rates in the country. When viewing foreclosure rates in metropolitan areas, Boise, Idaho also ranks in the top 20 metro areas with 2.85% of its housing units receiving at least one foreclosure filing in 2011.
On a national level, RealtyTrac reported considerable decreases in the number of national foreclosure filings issued in 2011 as opposed to previous years after the housing bubble burst. Brandon Moore, chief executive officer of RealtyTrac explains that, “Foreclosures were in full delay mode in 2011, resulting in a dramatic drop in foreclosure activity for the year. The lack of clarity regarding many of the documentation and legal issues plaguing the foreclosure industry means that we are continuing to see a highly dysfunctional foreclosure process that is inefficiently dealing with delinquent mortgages – particularly states with a judicial foreclosure process.” http://bit.ly/xXWY0Q