In 2010, foreclosure of Mississippi climbed up
In 2010, foreclosure of Mississippi climbed up

Although Mississippi could avert the crux of the national housing crisis, the number of properties beleaguered by foreclosure filings in the year of 2010 climbed up more than double from a couple of years earlier as stated by a national tracking firm on Thursday.

On top of that foreclosure action surged in the state during the later part of the year.

RealtyTrac an Irvine, Calif.-based firm stated that as many as five thousand two hundred and eighty properties got some type of foreclosure filing last year, be it an initial notice of default or the outright seizure and sale by a lending institution. That was a hike of one hundred and thirty percent from the year of 2008, but less by 2.3 percent from 2009.

One out of every two hundred and forty housing units in Mississippi received one kind or the other notice last year, and ranked the state forty fifth in the nation -- and in another league entirely from the foreclosure hotbeds of Illinois, California, Arizona, Florida and Michigan.

The mentioned five states contributed to half of the record 3.82 million foreclosure filings that happened all over the US in the last year, as stated by RealtyTrac.

If America as a whole is taken into consideration then one in every 45 housing units received a filing last year.

James Saccacio, the chief executive of RealtyTrac, however said that last year's figure would have been even higher if some lending institutions did not stop foreclosure proceedings due to legal questions.

Saccacio further said that many of the foreclosure proceedings that got stopped in late 2010, which according to estimate is as high as one fourth of a million, will likely to get restarted in and accumulate to the numbers in early 2011.

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