Over 1 million homes could get seized this year after legal scrutiny of foreclosure practices slowed actions against delinquent property owners in 2011, said RealtyTrac Inc. Home repossessions could grow by 25%, as a result. As it stands, Nevada had the nation’s highest foreclosure filing rate for the fifth straight year. A new state law that took effect in October requires lenders to file an additional affidavit before starting the foreclosure process. Meanwhile, Las Vegas had the highest foreclosure rate among metropolitan areas, at one foreclosure filing per 14 households. For the full report, CLICK HERE.
