Foreclosure Rate Rose Over Past Year
HARRISBURG, Pa. (AP) – The number of Pennsylvania homes entering the foreclosure process over the past 12 months rose by more than 20 percent, despite a national rate that stayed flat over the same period.
New figures out Thursday from foreclosure listing firm RealtyTrac Inc. showed almost 5,300 Pennsylvania homes received at least one foreclosure filing in May.
That’s a slight drop from April, about the same percentage decrease nationally over the same period. Nearly 1,600 of those properties in Pennsylvania were seized.
Pennsylvania’s foreclosure rate in May was two-fifths the national rate, with approximately one in every 1,000 homes receiving a foreclosure filing last month. A year ago, the state’s foreclosure rate was one-third the national rate.