The Nashville Business Journal recently reported residential foreclosures in Tennessee jumped 6.8 percent in January, and the state ranked No. 26 for its overall foreclosure rate.

There were a total of 3,911 foreclosure filings in the Volunteer State in January, an increase of 6.8 percent compared to January 2009 but a decrease of 17.8 percent compared to the previous month, according to RealtyTrac Inc.’s U.S. Foreclosure Market Report.

One in every 705 Tennessee homes received some type of foreclosure filing — default notices, scheduled auctions and bank repossessions — during the month. That ratio is lower than the national average of one in every 409 U.S. homes receiving a filing in January.

Nationally, foreclosure filings fell 9.7 percent from the previous month, but rose 15 percent compared to January 2009.

“January foreclosure numbers are exhibiting a pattern very similar to a year ago: a double-digit percentage jump in December foreclosure activity followed by a 10 percent drop in January,” said James J. Saccacio, chief executive officer of RealtyTrac, in a statement. “If history repeats itself we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs nor the new short sale and deed-in-lieu of foreclosure alternatives works.”

Topping the list with the highest foreclosure rates are Nevada, Arizona, California and Florida.

Mississippi ranked No. 45 and Arkansas No. 20.

Are you in danger of losing your Nashville home?  The Anderson Group can help you avoid foreclosure.  Call me today (615) 509-7000 or email me at Josh@JoshAndersonRealEstate.com for more information.