Thursday, October 28, 2010
LOS ANGELES (AP) -- Many large metropolitan areas are seeing a jump in foreclosures, including Chicago and Seattle, which are outside of the states that have shouldered the worst of the housing downturn.
Foreclosure listing firm RealtyTrac says the two cities saw a sharp increase in foreclosure rates.
California, Nevada, Florida and Arizona remain the nation's foreclosure hotbeds, accounting for 19 of the top 20 metropolitan areas with the highest foreclosure rates between July and September.
But the latest data show that many of the metro areas in those states saw a decline in the number of households receiving foreclosure-related filings, while many cities in other states saw a spike in foreclosure activity.
A RealtyTrac official says that shows the foreclosure epidemic is spreading.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
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