North Carolina sets record foreclosure filings in 2010
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CHARLOTTE — The North Carolina Justice Center reported Thursday the state set a record in foreclosure filings in 2010.
One in every 63 homes in the state faced foreclosure filings in 2010, according to the statistics released by the Justice Center. The Center is a research and advocacy agency focused on ending poverty. The state's three largest counties had the highest foreclosure totals:
• Mecklenburg County—12,176
• Wake County—5,584
• Guilford County—4,101
"This is a problem that cuts across class lines," said Jeff Shaw, Justice Center spokesperson. "Every community in North Carolina is experiencing a foreclosure and policy makers have to do all we can to keep people in their homes."
Shaw said the problem first was a result of the housing bubble burst. But as the issue lingers, it can become more of a jobs crisis and Shaw said certain steps must be taken to preserve jobs. However, North Carolina is still fairing better than the national average; as one in every 45 homes faces foreclosures nationwide.
The Charlotte Regional Realtor Association said the rising number of foreclosures is flooding the market with homes for sale statewide.
"Prices have come down over the past year," said Laurie Knudsen, Realtor Association president. "If we see more foreclosures, the prices will continue to come down and it only makes sense because it's a matter of supply and demand."
Knudsen said it could up to six months to finalize a deal with a bank to purchase a foreclosed home