Foreclosure in Kentucky inched higher in the first half of the year. Looks like we are catching up with the rest of the states. Realtytrac's midyear 2007 report revealed:
Kentucky's foreclosure rate increased 55% from the first six months of 2006. 4,503 properties were at some stage of foreclosure in January-June 2007 (1 in 414 properties). In ranking of states, we are 31st by rate of foreclosure, By comparison, Ohio ranked 6th,Indiana was 10th, Tennessee was 12th, Missouri was 20th and Virginia was 25th.
If the previous six months are compared Kentucky had an increase of 7% in total foreclosures. When June 2007 is compared to June 2006 the rate is up 124% with 805 households currently in the stages of foreclosure.