220362 Resource 178435 178982 1 1229049268086 1251389360296 Controlled Arizona Ranks #5 in Foreclosures Among States Top state for foreclosures is California, followed by Florida, Michigan, Nevada, and then Arizona <p>Mortgage foreclosures were lower in November than in any month since June, but November 2008 saw 28% more home foreclosures than November 2007. The decline of 7% from October 2008 was likely influenced by the self-imposed holiday foreclosure moratoriums introduced by some lenders. <em>See</em> <a title="Mortgage Giants Suspend Foreclosures for Holidays" href="item/218611" target="_blank">Mortgage Giants Suspend Foreclosures for Holidays</a>. Other contributing factors, according to <em>Realty Trac</em>, were modification of some states foreclosure laws and more aggressive loan modification programs.</p> <p>It&rsquo;s questionable how effective loan modification programs can be in an environment of rising job losses. <a title="MarketWatch.com article" href="http://www.marketwatch.com/news/story/First-time-jobless-claims-jump/story.aspx?guid=%7BFEDEE988%2DE48F%2D4BB2%2DB51B%2D8FCEC5F80726%7D&amp;dist=SecMostRead" target="_blank">The number of first-time filings for state unemployment benefits jumping by 58,000 to a 26-year high of 573,000, the Labor Department reported Thursday, according to MarketWatch.com.</a> The total number of people on unemployment compensation is the highest since 1982, and the number of people who applied for extended benefits is the highest since 1974, according to the same article. <strong>More than half of the homeowners whose loans have already been modified are already delinquent again</strong>, according to the U.S. Office of Thrift Supervision.</p> <p><strong>States with the highest number of foreclosures are:</strong> California, Florida, Michigan, Nevada, Arizona, Ohio, Georgia, Illinois, Texas and Virginia.</p> <p>If you are interested in buying any home in Flagstaff, including one that has been foreclosed, contact <a title="Flagstaff real estate broker" href="http://bestflagstaffhomes.com/" target="_blank">Team Heitland at RE/MAX Peak Properties</a>: 928-714-0001.</p> 9 application/xml false Arizona foreclosures economic news Flagstaff real estate broker Flagstaff Remax Foreclosures Foreclosures Decline, but Lull Likely Temporary Realtor® Magazine News of the Day http://www.realtor.org/RMODaily.nsf/pages/News2008121102?OpenDocument Jobless claims jump to 573,000, a 26-year high MarketWatch.com economic news of the day http://www.marketwatch.com/news/story/First-time-jobless-claims-jump/story.aspx?guid=%7BFEDEE988%2DE48F%2D4BB2%2DB51B%2D8FCEC5F80726%7D&dist=SecMostRead Mortgage Giants Suspend Foreclosures for Holidays Government, Fannie, Freddie and Banks Are Clearly Treading Water Hoping for a Life Bouy in January http://blog.bestflagstaffhomes.com/public/item/218611 Mozilla/4.0 (compatible; MSIE 8.0; Windows NT 5.1; Trident/4.0; .NET CLR 1.0.3705; .NET CLR 1.1.4322; Media Center PC 4.0; .NET CLR 2.0.50727; Zune 3.0; .NET CLR 3.0.4506.2152; .NET CLR 3.5.30729) 127.0.0.1 127.0.0.1 $Admin 67.172.146.66 false true false false true 178975 false false true false false false true 178435 blog blogsite/BestFlagstaffHomes/web