December's Latest News

4. Foreclosures Leap In November
(Source: wgal.com)

November foreclosures on homes increased 68 percent compared to November 2005 and 4 percent over October, according to online marketplace for foreclosure properties.

The RealtyTrac report showed that 120,334 properties nationwide entered some stage of foreclosure during the month.

Defaults, auctions and bank repossessions all trended higher in November, bringing the year-to-date foreclosure total to almost 1.2 million, up 43 percent from the same 11-month period of 2005, the report said.

Nevada recorded the highest foreclosure rate in November, replacing Colorado which led all states for eight consecutive months. Nevada reported 2,506 properties entering some stage of foreclosure during the month, almost triple the number reported in November 2005.

Vermont reported the lowest foreclosure rate, the report said.