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Foreclosures in the U.S.: The top states for foreclosure filing

Living in South Carolina, you need to know the state of your area's economy. Looking at foreclosure rates is one way to do so. A recent list from December describes how South Carolina is doing in comparison to the rest of the country.

Florida is normally in the top spot for the state with the most foreclosures, but the report from Dec. 17 has said that this year, it was able to drop out of position while Maryland faced serious foreclosure problems. Unfortunately for Floridians, the state has once again topped the foreclosure chart.

While Florida may be the worst state for foreclosures, South Carolina isn't doing much better. It's in 10th place, meaning that it is one of the top ten worst states for foreclosures in the United States. In South Carolina, foreclosure activity has been declining since 2013. In fact, it has declined 28.66 percent since November 2013, which has allowed South Carolina to drop from 8th place to 10th. What those current numbers mean is that approximately one in 933 housing units will go through foreclosure in the state.

Who shares the second-highest spot in the United States? That honor goes to New Jersey. One in 478 housing units will go through foreclosure, which is just short of the one in 462 housing units that will do the same in Florida.

Foreclosures are stressful for those going through them, and they can't be taken lightly. If you're struggling with debt or a foreclosure, it's okay to seek additional options. With some help, you may be able to keep your home while working through a bankruptcy or debt repayment plan.

Source: Real Estate AOL, "The Top 10 Foreclosure States in the U.S." Christine DiGangi, Dec. 17, 2014

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