Projected Foreclosures by State

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Projected
Foreclosures
in 2009 [1]

Projected
Foreclosures
over next 4 years [2]

Expected benefit of
court-supervised
modifications
(# of homes saved) [3]

Alabama

21,230

70,682

5,510

Alaska

2,069

6,888

505

Arizona

118,329

393,961

28,972

Arkansas

10,268

34,184

2,564

California

462,124

1,538,585

140,474

Colorado

38,248

127,343

12,871

Connecticut

17,704

58,942

6,531

Delaware

5,550

18,477

2,206

District of Columbia

3,879

12,914

1,036

Florida

423,731

1,410,761

160,123

Georgia

87,917

292,711

23,333

Hawaii

5,582

18,586

1,737

Idaho

10,429

34,724

2,617

Illinois

102,950

342,761

37,483

Indiana

49,430

164,573

18,894

Iowa

10,420

34,691

4,504

Kansas

10,778

35,884

3,346

Kentucky

18,084

60,208

6,604

Louisiana

14,746

49,096

6,155

Maine

6,849

22,803

2,802

Maryland

49,254

163,985

14,189

Massachusetts

29,609

98,580

10,951

Michigan

93,758

312,154

32,088

Minnesota

42,089

140,131

15,281

Mississippi

12,073

40,197

3,205

Missouri

32,291

107,509

8,190

Montana

2,558

8,517

771

Nebraska

6,214

20,689

1,980

Nevada

72,157

240,239

19,439

New Hampshire

7,488

24,929

2,079

New Jersey

60,554

201,606

24,018

New Mexico

7,681

25,572

2,400

New York

70,734

235,500

32,356

North Carolina

46,568

155,044

11,714

North Dakota

977

3,252

323

Ohio

87,540

291,455

36,631

Oklahoma

15,239

50,738

5,584

Oregon

20,105

66,937

5,149

Pennsylvania

51,202

170,471

19,654

Puerto Rico

1,499

4,989

545

Rhode Island

8,806

29,320

2,737

South Carolina

26,751

89,066

8,343

South Dakota

1,676

5,578

625

Tennessee

33,709

112,230

8,357

Texas

99,308

330,633

27,314

Utah

16,312

54,310

3,864

Vermont

1,579

5,257

630

Virginia

48,789

162,436

12,939

Washington

34,626

115,284

8,775

West Virginia

4,967

16,536

1,341

Wisconsin

25,054

83,413

9,972

Wyoming

1,109

3,693

269

United States (rounded)

2,432,900

8,100,000

800,000


[1] Estimated based on annualized run rate of foreclosure starts reported in 3Q 2008 MBA National Delinquency Survey, grossed up to reflect entire mortgage market (MBA covers 80%).

[2] Based on Credit Suisse projected national foreclosures of 8.1MM over next five years, and state proportion of 3Q2008 foreclosure starts as reported in MBA 3Q 2008 National Delinquency Survey.

[3] Estimated based on Moody's Economy.com projected reduction on foreclosures due to court-supervised modifications (800,000), and state proportion of 3Q 2008 foreclosure inventory as reported in MBA 3Q 2008 National Delinquency Survey.