A Polk in the Eye for Iowa Homeowners: Foreclosure Rises

The rate of housing foreclosure filings nationally jumped dramatically in February. According to Realty Trac

Foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 290,631 U.S. properties during the month, an increase of nearly 6 percent from the previous month and an increase of nearly 30 percent from February 2008. The report also shows one in every 440 U.S. housing units received a foreclosure filing in February.

With one in every 70 housing units receiving a foreclosure filing in February, Nevada continued to document the nation’s top state foreclosure rate. Foreclosure filings were reported on 15,783 Nevada properties during the month, a 9 percent increase from the previous month and a 156 percent increase from February 2008.

Arizona posted the third highest state total in February, with 18,119 properties receiving a foreclosure filing during the month — a 23 percent increase from the previous month and an 88 percent increase from February 2008.

Nevada, Illinois, Michigan, Ohio, Texas, Georgia and Virginia also reported foreclosure totals that were among the nation’s 10 highest.

In Iowa, things are not as bleak as the national picture, but in several key counties, things could be better. Polk County has the highest foreclosure rate where 1 in every 518 housing units is in foreclosure. Rounding out the top six are:

Scott - 1 in 1192
Pottawatamie - 1 in 1276
Harrison - 1 in 1391
Clinton - 1 in 1487
Linn - 1 in 1911

Johnson County is 9th on the list with 1 in 3644 homes in foreclosure.