Yes, its true that the overall foreclosure rate in the US has declined, down by 28 percent for the year and 7 percent lower in January 2013 as compared to the year before. However, much of this reduction can be attributed to the new law passed in California which went into effect on January 1st.
"The U.S. foreclosure landscape in January was profoundly altered by the effects of new legislation that took effect in California on the first of the year,” said Daren Blomquist, vice president at RealtyTrac.
“Dubbed the Homeowners Bill of Rights, this legislation extends many of the principles in the national mortgage settlement — including a prohibition on so-called dual tracking and requiring a single point of contact for borrowers facing foreclosure — to all mortgage servicers operating in California. …As a result, the downward foreclosure trend in California accelerated into hyper speed in January, decisively shifting the balance of power when it comes to the nation’s foreclosure activity."
Yet many other areas of the country are still suffering the ill-effects of foreclosures. The following is a list of the 17 worst rates of foreclosure in the country, by city, according to RealtyTrac.
1. Ocala, Florida: 1 out of 223 homes
2. Miami-Fort Lauderdale-Pompano Beach, Florida: 1 in every 228 homes
3. Orlando-Kissimmee, Florida: 1 out of 241 homes foreclosed
4. Rockford, Illinois: 1 out of every 265 homes
5. Stockton, California: 1 out to 277 homes
6. Las Vegas-Paradise, Nevada: 1 in every 283 homes
7. Chicago-Naperville-Joliet, Illinois: 1 in every 293 homes
8. Jacksonville, Florida: 1 out of 301 homes
9. Tampa-St. Petersburg-Clearwater, Florida: 1 in 307 homes
10. Lakeland, Florida: 1 in every 332 homes
11. Cape Coral-Fort Myers, Florida: 1 out of 336 homes foreclosed
12. Palm Bay-Melbourne-Titusville, Florida: 1 in every 339 homes
13. Port St. Lucie, Florida: 1 out of every 341 homes foreclosed
14. Canton-Massillon, Ohio: 1 in 366 homes
15. Atlanta-Sandy Srpings-Marietta, Georgia: 1 in 390
16. Sarasota-Bradenton-Venice, Florida: 1 out of 391 homes
17. Modesto, California: 1 out of 415 homes received foreclosure filing in January 2013.