Arizona foreclosure notices up in January - East Valley Tribune: Business

Arizona foreclosure notices up in January

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Posted: Thursday, February 16, 2012 2:24 pm

Foreclosure activity jumped 14 percent in January from the previous month in Arizona, but they're still way down from a year ago.

Foreclosure tracking firm RealtyTrac says lenders started the foreclosure process on 4,400 homes last month and actually repossessed 4,350. But those numbers are a 44 percent drop from January 2011.

Nevada had the nation's highest foreclosure rates, with one in every 198 housing units getting a notice. California was second, and Arizona third with one of every 325 homes and condos receiving a notice in January.

Still, the news was pretty good for Arizona. RealtyTrac says initial foreclosure filings averaged 4,300 the last two months. That's way down from the 7,500 per month the previous year.

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