Foreclosure rates down in Connecticut and nationwide

  In April 1,292 Connecticut homes were taken by foreclosure down from 2,915 in April of 2010.  Fairfield, Windham and New London counties continue to have the highest rates of foreclosure while Tolland and Middlesex counties have the lowest.  Connecticut ranks 30th nationwide in the number of foreclosures with 1 in 119 homes in the foreclosure process.  Nevada leads the nation with 1 in 97 homes in foreclosure.

  Nationwide foreclosure rates fell for the seventh straight month to its lowest level since December of 2007.  Although the economy continues to improve as does the housing market, some of the decline in the foreclosure rate can be attributed to the government slowing the foreclosure process while it continues to investigate faulty foreclosure paperwork filed by some of the nations largest banks.

Tom Fitzgerald   Realtor, GRI

tomfitzgerald@prudentialct.com

860-917-9628