Foreclosure Home Housing & Foreclosure Reports Indiana Foreclosure Activity Rises in January

Indiana Foreclosure Activity Rises in January

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Statewide filings up 14 percent from December; Rate seventh highest

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 14,349 Illinois properties in January, a 14 percent increase from December and 9 percent above the level reported for January 2011, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Illinois had the seventh highest foreclosure rate, reporting one in every 369 Illinois housing units with a foreclosure filing in January.

California continues to lead the nation in terms of total properties with foreclosure filings by a large margin, reporting 51,584 properties with foreclosure filings. Second ranked Florida reported 24,783 properties with foreclosure filings during the month. Illinois ranked third, followed by Michigan in fourth place, reporting 12,808 properties with foreclosure filings. Georgia was fifth highest, tallying 12,467 properties with foreclosure filings.

The remaining states that make up the nation’s top 10 in January include Texas (9,085), Arizona (8,749), Ohio (8,325), Nevada (5,931) and Indiana (5,039). The top 10 accounted for 73 percent of the nation’s total foreclosure activity for the month.

Kendall County posts top foreclosure rate in the state for January
 One in every 123 housing units in Kendall County had a foreclosure filing in January — 5.1 times the national average and three times the state average — the highest foreclosure rate of all Illinois counties for the month. Kane County had the second highest rate of one in every 211 housing units with a foreclosure filing during the month — three times the national average and 1.8 times the state average. McHenry County had the third highest rate of one in every 214 housing units with a foreclosure filing during the month — 2.9 times the national average and 1.7 times the state average.

Cook County leads state in foreclosure activity in January
 Cook County led all counties by a large margin, reporting 8,515 properties with foreclosure filings for the month. Lake County had the second highest total, reporting 979 properties with foreclosure filings. Will County was third, reporting 915 properties with foreclosure filings. Fourth highest was Kane County, recording 863 properties with foreclosure filings. Du Page County was fifth highest, tallying 841 properties with foreclosure filings for the month.

State a major contributor to total foreclosure activity in January
 Illinois accounted for 7 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, Illinois, 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

 Indiana 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

Indiana

0

910

0

2,408

1,721

5,039

555

1.13

n/a

 

 

 

 

 

 

 

 

 

 

Scott

0

0

0

28

17

45

232

2.69

2.39

Marion

0

417

0

521

760

1,698

246

2.54

2.25

Shelby

0

1

0

37

27

65

294

2.13

1.89

Howard

0

14

0

68

36

118

328

1.90

1.69

Johnson

0

63

0

54

51

168

337

1.85

1.65

 Indiana Top Foreclosure Totals by County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg   Dec11

% Chg   Jan 11

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

2.89

-19.28

Indiana

0

910

0

2,408

1,721

5,039

555

43.64

68.58

 

 

 

 

 

 

 

 

 

 

Marion

0

417

0

521

760

1,698

246

30.92

122.25

Lake

0

145

0

150

94

389

537

42.49

30.98

Allen

0

50

0

133

87

270

564

37.76

22.17

Elkhart

0

35

0

139

19

193

403

78.70

55.65

Johnson

0

63

0

54

51

168

337

73.20

30.23

 


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