Nevada foreclosure rate No. 2 in nation in October

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Updated: 11/14/2013 10:10 pm

LAS VEGAS (AP) — Nevada's foreclosure rate was second in the nation in October, the month after a major filing surge.

RealtyTrac statistics released Thursday show one in every 407 homes in Nevada saw some sort of foreclosure filing in October. The firm counted nearly 1,700 initial notices of default.

The rate is down 39 percent from September, when foreclosure notices spiked. Lenders rushed to file before a new law called the Homeowners' Bill of Rights took effect Oct. 1.

The law adds protections for homeowners and pushes troubled borrowers toward foreclosure alternatives.

Florida posted the nation's highest foreclosure rate in October.

 

©2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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