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Lis Pendens Filings for Properties Reach Record Level in NC in 2010

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By : John Cutts    99 or more times read
The state of North Carolina set a record for the number of filings for foreclosure Lis Pendens in 2010, according to the North Carolina Justice Center. The Center reported that last year's foreclosure number was the highest ever recorded in the region since the start of the housing market crisis three years ago.

The number of Charlotte repo homes and foreclosed houses in most big cities of the state continued to rise last year compared with previous periods. According to housing market data for the full year, one household out of every 63 in the state received a foreclosure-related filing in 2010. The Justice Center, which specializes in finding ways to battle poverty in the region, also reported that the three biggest counties in the state posted the highest number of foreclosures during the period.

North Carolina repo homes and foreclosed properties posted significant increases last year, with the counties of Mecklenburg, Guilford and Wake posting the highest foreclosure figures for 2010. Mecklenburg had over 12,100 foreclosure-related filings during the year, while Wake County posted a total of 5,584. In Guilford, a total of 4,101 properties were under some form of foreclosure in 2010.

The problem of foreclosure Lis Pendens was felt by almost all types of property market classes in the state last year. Based on statewide data, the issue did not choose between high-end property markets and low-priced property neighborhoods. According to the Justice Center, all communities in the state experienced foreclosure-related problems, and policymakers were hard put in helping families and homeowners keep their properties.

Housing industry experts claimed that the high level of foreclosed properties and repossessed houses for sale all over the U.S. is primarily caused by unemployment. Officials from the Justice Center stated that steps should be taken to maintain jobs in North Carolina to help homeowners facing foreclosure troubles. Despite the record level of foreclosure-related filings in the region, North Carolina still performed better when compared with the whole U.S.

National foreclosure average saw one household out of every 45 receiving a foreclosure related Lis Pendens filing in 2010. Prices of residential properties all over the U.S. also declined during the period, including those sold in North Carolina markets.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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