Foreclosure Home Housing & Foreclosure Reports North Carolina Foreclosure Activity Falls in January

North Carolina Foreclosure Activity Falls in January

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Statewide filings down 7 percent from December

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 2,541 North Carolina properties in January, a 7 percent decrease from December and 16 percent below the level reported for January 2011, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

North Carolina had the 36th highest foreclosure rate, reporting one in every 1,703 North Carolina housing units with a foreclosure filing in January.

Mecklenburg County posts top foreclosure rate and total in the state for January
 One in every 492 housing units in Mecklenburg County had a foreclosure filing in January — 1.3 times the national average and 3.5 times the state average — the highest foreclosure rate of all North Carolina counties for the month. Mecklenburg County also led all counties in total foreclosure activity, reporting 810 properties with foreclosure filings for the month.

Union County had the second highest rate of one in every 775 housing units with a foreclosure filing during the month — 2.2 times the state average. Forsyth County had the third highest rate of one in every 777 housing units with a foreclosure filing during the month — 2.2 times the state average.

Wake County had the second highest total, reporting 274 properties with foreclosure filings. Guilford County was third, reporting 273 properties with foreclosure filings. Fourth highest was Forsyth County, recording 202 properties with foreclosure filings. Union County was fifth highest, tallying 94 properties with foreclosure filings for the month.

State a moderate contributor to total foreclosure activity in January
 North Carolina accounted for 1 percent of the 210,941 properties with foreclosure filings reported nationwide in January. Total U.S. activity increased by 3 percent from December, but was still down over 19 percent from the level reported in January 2011. One in every 624 U.S. housing units received a foreclosure filing during the month.

“Although overall foreclosure activity was down from a year ago for the 16th straight month in January, we continue to see signs on a local and regional level that the frozen-up foreclosure process is beginning to thaw,” said Brandon Moore, CEO of RealtyTrac. “Foreclosure activity increased on a year-over-year basis for the first time in more than 12 months in Florida, Michigan, Indiana and Pennsylvania, following a pattern we saw in late 2011 in states such as California, Arizona and Massachusetts.

“We expect the pattern of increasing foreclosures to continue in the coming months, especially given the finalized mortgage and foreclosure settlement reached in early February between 49 state attorneys general and five of the nation’s largest lenders,” Moore continued. “The settlement sets forth clear guidelines for lenders and servicers to follow when foreclosing, which should allow them to push through some of the delayed foreclosures from last year. Other roadblocks to foreclosure are still in place at the state level, however, including legislation altering the foreclosure process and lawsuits against lenders. We expect to see somewhat uneven trends in local and regional foreclosure numbers going forward as lenders work through these additional legislative and legal roadblocks.”

 

North Carolina Top Foreclosure Rates By County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

n/a

n/a

North Carolina

81

0

1,268

0

1,192

2,541

1,703

0.37

n/a

 

 

 

 

 

 

 

 

 

 

Mecklenburg

22

0

506

0

282

810

492

1.27

3.46

Union

0

0

44

0

50

94

775

0.81

2.20

Forsyth

47

0

91

0

64

202

777

0.80

2.19

Guilford

11

0

137

0

125

273

799

0.78

2.13

Burke

0

0

18

0

26

44

929

0.67

1.83

North Carolina Top Foreclosure Totals by County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X   HU (rate)

% Chg   Dec 11

% Chg   Jan 11

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

2.89

-19.28

North Carolina

81

0

1,268

0

1,192

2,541

1,703

-7.13

-16.41

 

 

 

 

 

 

 

 

 

 

Mecklenburg

22

0

506

0

282

810

492

-2.41

13.45

Wake

0

0

210

0

64

274

1357

-48.01

-37.73

Guilford

11

0

137

0

125

273

799

-0.73

-27.78

Forsyth

47

0

91

0

64

202

777

8.60

-39.34

Union

0

0

44

0

50

94

775

-6.00

20.51

 


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