North Carolina Foreclosures Growing At Record Pace

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  • August 16, 2010

North Carolina Foreclosures Growing At Record Pace 

News out of Raleigh, Carolina is not looking all that great for the housing sector. The North Carolina Justice Center says that the State of North Carolina is on pace for a record number of foreclosures in 2010.

Based upon the current and average levels of foreclosures in North Carolina, the state will see well over 70,000 filings for the 2010 calendar year.

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By July 2010, North Carolina has experienced more than 40,000 filings. This figure represents an alarming trend and if the numbers continue in this fashion last year’s record of 63,289 will be shattered.

“The foreclosure crisis is devastating for North Carolina’s working families,” said Alfred Ripley, head of the NC Justice Center’s Consumer Action Network. “Across the state, people are struggling to stay in their homes.

The top three North Carolina counties for foreclosures are Mecklenburg, with 6,726 so far this year, Wake (3,246) and Guilford (2,542).

Rounding out the top ten are Franklin (1,449), Union (1,179), New Hanover (1,126), Durham (1,109), Buncombe (1,073), Gaston (1,068), and Cumberland (961) counties.

“Now more than ever, we have to protect our state’s homeowners by supporting home preservation programs such as the Housing Finance Agency’s Home Protection Program and the NC Commissioner of Banks Foreclosure Prevention Project,” said Ripley.

Foreclosures in North Carolina coming at record pace Only one North Carolina county — Warren — has already hit its 2009 level in 2010, with 70 foreclosures. Nationally, foreclosures are expected to peak next  

Report: State on Record Pace for Foreclosures The top three North Carolina counties for foreclosures are Mecklenburg, with 6726 so far this year, Wake (3246) and Guilford (2542).

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