Business
5:04 pm
Mon February 20, 2012

Missouri foreclosures spike in January

 

The number of foreclosures in Missouri jumped nearly 14 percent in January compared to the month before. Meanwhile, foreclosures were up only 3 percent nationwide.

RealtyTrac vice president Daren Blomquist said the anticipation of the federal government’s settlement with five mortgage lenders likely led to the increase. He says foreclosures will probably remain on the rise for the next few months.

"The good news is that the economy is slowly but surely improving," Blomquist said. "The more that happens over the next fews months the shorter that increase will be and we’ll see foreclosures head back down again in the second half of 2012 and into 2013.”

Missouri’s per capita foreclosure rate remained lower than the national average in January and placed it 23rd among states.