With the news of new programs for homeowners at the cusp of foreclosure coming to a lender near you, I took a look at the state of foreclosure in Iowa and elsewhere. With 303,419 home foreclosure filed as of December, 2008, it is good that this aid has come.
First the good news, Iowans are doing much better than most.
Iowa, which is 23rd in total population, has the 14th lowest rate of foreclosure filings. This is particularly good in the context that we have the 10th highest homeownership rate. We slip a little when the number of foreclosure filings are compared to the total number of homeowners, here we fall to 17th among all states and the District of Columbia.
If you are interested in knowing who the top and bottom five states are:
Highest Numbers of Foreclosure Filings
Lowest Numbers of Foreclosure Filings
North Dakota: 44
South Dakota: 45
Lowest % of Filings Per Homeowner:
Highest % of Filings Per Homeowner:
(Sources: Realty Trac December 2008, BLS estimate of state populations for 2008, Homeownership Rate by state 2007, U.S. Census Bureau. Web: www.census.gov).