JP Morgan Chase Homes and Other Bank Foreclosures Were Up in July

by Peter Vernon on cities

Almost all types of foreclosures, including JP Morgan Chase homes and other bank foreclosures, were up during the month of July in the U.S. according to the latest housing market statistics. Foreclosure filings rose by 4% during July 2010 when compared with May 2010. These include properties that have received notices of default, houses to be auctioned and bank repossessed dwellings.

California accounted for the biggest percentage of national foreclosure totals for July, with Los Angeles foreclosed homes and almost all areas of the state contributing to the 21% of foreclosures accounted for by the state in the national level. Almost 67,000 properties received a filing during July in the state, although this figure represents a three percent decline when compared with May 2010 and a 38% drop when compared with July 2009.

Meanwhile, foreclosed homes in Florida declined, although they accounted for 16% of the total U.S. foreclosures for July 2010. Over 51,000 households received a filing in the state, although the total figure represents a 9% decline when compared with the same month of 2009. Florida was third in terms of foreclosure activity rates in the whole U.S. for July, while California was ranked fourth.

The state with the highest foreclosure rate in July 2010 remains to be Nevada. The state had over 13,000 properties, including JP Morgan Chase homes, receiving a filing during July 2010. This is the 43rd consecutive month that Nevada made it to the top among states with the highest foreclosure rates. The state recorded a 7% increase in filings when compared with May 2010, but an almost 30% decrease when compared with July 2009.

Arizona, on the hand, came in as the second state with the most number of properties under lists of foreclosures for sale. The state had a ratio of one household for every 167 receiving a filing for July 2010. Arizona's foreclosure activity rate was more than double the national average, although this is the sixth straight month that the area recorded a yearly decrease in foreclosure rates.

Other states that recorded high foreclosure numbers in almost all types for July 2010, including government foreclosures, JP Morgan Chase homes and other bank foreclosures, were Michigan, Maryland, Georgia, Illinois and Utah, in no particular order.