Foreclosures in the Silver State!
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Nevada leads foreclosure category
Las Vegas Foreclosure & Real Estate News
According to a national report, Nevada led the nation with 1.9 percent of mortgage loans starting foreclosures in the first quarter of this year.
The survey by the Mortgage Bankers Association also found that Nevada's foreclosure inventory rate was 4.1 percent over the same period, second only to Florida.
The state's rate of delinquent mortgage loans past 90 days was 2.2 percent, behind only Mississippi and Michigan.
Realtors say Nevada's high rate of foreclosures is no surprise considering that states whose home values shot up the most during the boom now are being hit the hardest during the decline.
The Mortgage Bankers Association cited declining house values combined with adjustable-rate mortgage issues for the high foreclosure and delinquency rates.
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