Total foreclosure filings up 76 percent from Q2; Down 30 percent from Q3 2008.

Nebraska reported 735 properties with foreclosure filings in the third quarter of 2009, an increase of 76 percent from the previous quarter, but still 30 percent below the level reported in the third quarter of 2008, according to the latest RealtyTrac^® U.S. Foreclosure Market Report. 

Foreclosure activity in Nebraska was up more than 59 percent in September from the previous month to 355 properties with foreclosure filings and up 834 percent from September 2008.

“Nebraska saw a significant increase in foreclosure filings in the third quarter of 2009, though the level of activity remained well below what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “While bank repossessions for a number of properties in peril were held off for the first half of 2009 because of the federal foreclosure prevention program, many of these homes were finally processed as foreclosures in recent months, thus creating the illusion of a substantial recent increase in activity in several states.”

One in every 1,062 Nebraska housing units received a foreclosure filing during the third quarter, ranking 45^th among the 50 states.

Douglas County leads state in foreclosure rate and activity in the third quarter

Douglas County posted the highest county foreclosure rate in the state for the third quarter, with one in every 373 housing units receiving a foreclosure filing — 2.9 times the state average. Saline County posted the second highest foreclosure rate in the state, with one in every 724 housing units receiving a foreclosure filing during the quarter. Kimball County posted the third highest foreclosure rate, where one in every 985 housing units received a foreclosure filing.

Douglas County leads state in foreclosure activity in the third quarter

Douglas County also led the state in foreclosure activity, reporting 568 properties with foreclosure filings for the quarter. Lancaster County had the second highest total foreclosures, reporting 48 properties with foreclosure filings. Sarpy County came in third, tallying 16 properties with foreclosure filings. Dodge and Saline counties posted the fourth highest foreclosure activity for the quarter, each reporting eight properties with foreclosure filings.

State a minor contributor to nation’s foreclosure activity for quarter and month

Nebraska accounted for less than 1 percent of the 937,840 properties with foreclosure filings reported nationwide for the third quarter and less than 1 percent of the 343,638 properties with foreclosure filings reported for September. Total U.S. activity declined 5.4 percent between the second and third quarter of the year, but was up 23 percent from the third quarter of 2008. One in every 136 U.S. housing units received a foreclosure filing during the quarter, the highest quarterly foreclosure rate since RealtyTrac began issuing its report in 2005.

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is filed against a property during the month — which is extremely rare — only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

Nebraska Top Foreclosure Rates By County – Q3 2009

Nebraska Top Foreclosure Totals by County – Q3 2009

Nebraska Top Foreclosure Rates By County – Sept 2009

Nebraska Top Foreclosure Totals by County – Sept 2009