Top 10 States for Foreclosures

There’s no humor in this top 10 list: The states hardest hit by foreclosure. Bankrate.com reports that it’s especially unfunny for homeowners and agents in Nevada, Florida, California and Arizona, who’ve languished in the top four for most of the real estate recession. “Those states had similar scenarios,” says Rick Sharga, senior vice president of RealtyTrac, a California-based firm that tracks U.S. foreclosures. “They all had unsustainably high home prices and had many buyers who really couldn’t afford them — most with toxic mortgages — followed by (downturn-related) unemployment.”