More Nev. homes enter foreclosure process | NevadaAppeal.com

More Nev. homes enter foreclosure process

LAS VEGAS (AP) — Analysts say the number of Nevada properties entering the foreclosure process tripled in February compared with a year earlier.

Statistics released Thursday by RealtyTrac show nearly 2,000 homes received a notice of default last month, which is up 9 percent from January but up 334 percent from last February.

At the same time, the number of bank repossessions in February was down about 1 percent from January and down 59 percent from a year ago. A repossession is the last step in the foreclosure process.

One in every 320 Nevada properties received some sort of foreclosure filing in February.

The state's overall foreclosure rate remains second highest in the nation, behind Florida.