As foreclosures rose in 2008, the total number of consumer bankruptcies also increased to 1.06 million, according to the American Bankruptcy Institute.
Bankruptcies homes for sale and foreclosed dwellings are not the only problems of Atlanta. Several church buildings in the area are also facing foreclosures.
Bank foreclosed hotels in California soared by 313 percent to 62 hotels in 2009. The largest foreclosure was the Marriott hotel in Los Angeles. Additionally, a total of 307 hotels were in default in 2009.
The bankruptcy rate is staggering in the City of Tucson now, although this trend started in 2007. Consumers are, in turn, enjoying decreased attorney fees and extra services.
The office market in Las Vegas, Nevada is suffering from the onslaught of commercial bankruptcies and bank foreclosed properties in the region. For the second quarter, the office market posted negative net absorption.
San Jose foreclosures pushed bankruptcies to their 20-year high of almost 11,500 business and personal bankruptcy filings in 2009, based on data from the U.S. Northern District Bankruptcy Court. Total filings in 2009 rose by 50 percent from filings in 2008.
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