Updated at 3:32 p.m., Monday, March 26, 2007
Hawai'i Feb. home foreclosures up 7% from year ago
Advertiser Staff
There were 7 percent more Hawai'i homes entering foreclosure in February compared with a year earlier, but the state still has one of the lowest foreclosure rates in the nation.The 7 percent rise to 59 foreclosure cases puts Hawai'i's rate at one foreclosure action for every 7,806 households. That's compared with a national rate that rose 12 percent and equated to one foreclosure per 884 households.
Only seven states had lower rates than Hawai'i.
RealtyTrac, an Irvine, Calif.-based real estate research firm that produced the report, said Vermont, with only one foreclosure case, had the lowest rate at one case per 294,382 households. The worst rate was Nevada, which had one case per 278 households.
Foreclosures counted by RealtyTrac include properties entering some stage of foreclosure, including notices of default, foreclosure sale notices and property repurchases by lenders.
