Foreclosure Home Housing & Foreclosure Reports Wisconsin Foreclosure Activity Rises in February

Wisconsin Foreclosure Activity Rises in February

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Statewide filings up 4 percent from January

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 4,403 Wisconsin properties in February, a 4 percent increase from January, but still 2 percent below the level reported for February 2011, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Wisconsin had the 10th highest foreclosure rate, reporting one in every 596 housing units with a foreclosure filing in February.

California continues to lead the nation in terms of total properties with foreclosure filings by a large margin, reporting 48,422 properties with foreclosure filings. Second ranked Florida reported 26,337 properties with foreclosure filings during the month. Third place was Illinois, where 13,298 properties with foreclosure filings were reported. Georgia moved up to the fourth highest total, reporting 12,356 properties with foreclosure filings while Michigan dropped a spot to fifth place, tallying 10,467 properties with foreclosure filings.

The remaining states that make up the nation’s top 10 in February include Texas (9,554), Ohio (9,445), Arizona (9,131), Pennsylvania (4,494) and Wisconsin. The top 10 accounted for 71 percent of the nation’s total foreclosure activity for the month.

Kenosha County posts top foreclosure rate in the state for February
 One in every 251 housing units in Kenosha County had a foreclosure filing in February — 2.5 times the national average and 2.4 times the state average — the highest foreclosure rate of all Wisconsin counties for the month. Columbia County had the second highest rate of one in every 319 housing units with a foreclosure filing during the month — twice the national average and 1.9 times the state average. Saint Croix County had the third highest rate of one in every 373 housing units with a foreclosure filing during the month — 1.7 times the national average and 1.6 times the state average.

Milwaukee County has top foreclosure total in February
 Milwaukee County had the highest foreclosure total, reporting 1,016 properties with foreclosure filings for the month. Dane County was second highest, reporting 286 properties with foreclosure filings. Kenosha County was third, reporting 276 properties with foreclosure filings. Fourth highest was Brown County, recording 243 properties with foreclosure filings. Racine County was fifth, tallying 215 properties with foreclosure filings for the month.

State a major contributor to nation’s foreclosure total in February
 Wisconsin accounted for 2 percent of the 206,900 properties with foreclosure filings reported nationwide in February. Total U.S. activity decreased by 2 percent from January and was down over 8 percent from the level reported in February 2011. One in every 637 U.S. housing units received a foreclosure filing during the month.

“February’s numbers point to a gradually rising foreclosure tide as some of the barriers that have been holding back foreclosures are removed,” said Brandon Moore, CEO of RealtyTrac. “Although national foreclosure activity was pushed lower by decreases in a handful of larger states, 21 states posted annual increases in foreclosure activity, the most states with annual increases since November 2010.

“The foreclosure and mortgage settlement filed in court earlier this week will help pave the way to a properly functioning foreclosure process by providing a clear roadmap for necessary foreclosures,” Moore continued. “That should result in more states posting annual increases in the coming months. Not surprisingly, many of the biggest annual increases in February were in states with the more bureaucratic judicial foreclosure process, which resulted in a larger backlog of foreclosures built up over the last 18 months in those states.”

Wisconsin Top Foreclosure Rates By County – February 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

23,058

35,828

60,700

23,480

63,834

206,900

637

n/a

n/a

Wisconsin

0

1,946

0

1,385

1,072

4,403

596

1.07

n/a

 

 

 

 

 

 

 

 

 

 

Kenosha

0

123

0

77

76

276

251

2.54

2.37

Columbia

0

34

0

28

20

82

319

2.00

1.87

Saint Croix

0

38

0

20

33

91

373

1.70

1.60

Rock

0

66

0

58

57

181

378

1.68

1.58

Racine

0

69

0

80

66

215

382

1.67

1.56

 Wisconsin Top Foreclosure Totals by County – February 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Jan 12

% Chg Feb 11

 

 

 

 

 

 

 

 

 

 

United States

23,058

35,828

60,700

23,480

63,834

206,900

637

-1.92

-8.09

Wisconsin

0

1,946

0

1,385

1,072

4,403

596

4.07

-1.67

 

 

 

 

 

 

 

 

 

 

Milwaukee

0

557

0

291

168

1,016

411

-4.42

-18.59

Dane

0

121

0

83

82

286

755

23.81

-1.04

Kenosha

0

123

0

77

76

276

251

49.19

148.65

Brown

0

98

0

72

73

243

430

14.08

50.00

Racine

0

69

0

80

66

215

382

-1.83

-49.29

 


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