Foreclosures in State Hit New High

Journal and Courier Online - News: "INDIANAPOLIS -- Indiana's home foreclosure rate hit a record high in the last three months of 2005, when more than 7,000 Indiana homeowners faced foreclosures driven by layoffs, personal bankruptcies and other factors.
During the last quarter of 2005, lenders began foreclosure proceedings on 7,575 Indiana mortgage loans, or 0.98 percent of mortgage loans in service statewide, the Mortgage Bankers Association reported.
That rate was more than double the national rate and was Indiana's highest since the Washington, D.C.-based association began keeping records in 1979. Indiana has led the nation in foreclosure proceedings since July 2004."
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