Let's set the record straight.
We keep seeing the headlines - Nevada ranks #1 in foreclosures in the nation. Yes, our foreclosure rate is up in Washoe County. Keep in mind that all 3 steps of the foreclosure process are figured into the numbers, including homeowners that miss a few payments and recieve a Notice of Default (a reminder that if payment is not made, then the servicer of the mortgage takes it to the next step).
As I have stated all along, the Reno/Tahoe area continues to be an economic and quality of life haven that unforunately shares a state with Ground Zero for foreclosures. Follow the following link to see what I mean. Last time I checked the top 400 zip codes, the Reno area had one at #356. There are none on the top 100. Las Vegas has the Top 7, 12 of the Top 15!
As always, it pays to dig into the details.
What are your thoughts?
Foreclosures: 100 worst hit zip codes
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