Nevada foreclosure rate is 1st in nation in April

Nev. foreclosure rate 1st in nation in April; lawmakers review bill likely to push number up

Associated Press

LAS VEGAS (AP) -- Nevada's foreclosure rate has topped the nation for a second month, following a brief hiatus from the state's five-year reign as foreclosure king.

Statistics released Thursday by RealtyTrac show nearly 3,227 homes received some sort of foreclosure filing in April, down 15 percent from March and down 17 percent from last April.

But the number of properties entering the foreclosure process is up. Analysts say nearly 1,900 homes received an initial notice of default, which is a 40 percent increase from last year.

One in every 360 Nevada properties received some sort of foreclosure filing in April.

A state Senate committee plans to review a bill Thursday to ease the requirements on lenders seeking to foreclose. The bill passed the Assembly unanimously, and would likely push the foreclosure rate up.

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