Nevada foreclosure rate climbs to No. 2 in nation

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Updated: 11/16/2012 12:46 pm

LAS VEGAS (AP) — Nevada's foreclosure rate has climbed to second in the nation even after activity dropped significantly year-over-year.

RealtyTrac reports Thursday that Nevada's October foreclosure rate is down 47 percent year-over-year, but up 41 percent compared with September. The state jumped from its No. 5 ranking in September.

One in every 352 properties in Nevada saw some sort of foreclosure filing last month. That rate was behind only Florida.

Nevada's numbers are a magnified version of the national foreclosure picture for the month of October. RealtyTrac reports foreclosure filings nationwide were up 3 percent from September, but down 19 percent year-over-year.

The state's rate foreclosure rating has been down for the past year after a state law took effect last October requiring more paperwork for lenders to launch a foreclosure.

©2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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