Indiana Experiences a Surge in Foreclosures in August

Foreclosure activity in Indiana rose 24 percent in August to 6,422 properties with foreclosure filings, up 22 percent from the level reported in August 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity jumped again in Indiana in August, with filings above the level reported for last month and for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Though the Hoosier State reported a welcome dip in unemployment below 10 percent, it is difficult to say whether its economy is actually on the upswing.”

 

One in every 433 Indiana housing units received a foreclosure filing in August, the 13th highest foreclosure rate in the nation.

 

Marion County tops state foreclosure rate for August

Marion County posted the highest county foreclosure rate in the state for August, with one in every 121 housing units receiving a foreclosure filing. Madison County had the second highest foreclosure rate, with one in every 321 housing units receiving a foreclosure filing during the month. Johnson County posted the third highest foreclosure rate, where one in every 332 housing units received a foreclosure filing.

 

 

Marion County leads the state in foreclosure totals for August

Marion County also tallied the highest activity level, tallying 3,448 properties with foreclosure filings for the month. Lake County had the second highest total of foreclosure filings, documenting 469 properties with foreclosure filings. Reporting 303 properties with foreclosure filings for the month, Allen County reported the third highest total in the state. St. Joseph County was fourth highest, reporting 211 properties with foreclosure filings, while the fifth highest total was in Hamilton County, where 208 properties with foreclosure filings were reported for the month.

 

State a contributor to the nation’s foreclosure activity in August

Indiana accounted for 2 percent of the 358,471 properties with foreclosure filings reported nationwide in August. Total U.S. activity declined fractionally from the previous month but was still 18 percent ahead of August 2008. One in every 357 U.S. housing units received a foreclosure filing during the month.

 

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.

 

 

Indiana Top Foreclosure Rates By County – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

n/a

n/a

Indiana

0

742

0

2,169

3,511

6,422

433

0.82

n/a

 

 

 

 

 

 

 

 

 

 

Marion

0

367

0

510

2,571

3,448

121

2.94

3.57

Madison

0

38

0

137

10

185

321

1.11

1.35

Johnson

0

27

0

82

58

167

332

1.07

1.30

Miami

0

7

0

16

23

46

344

1.04

1.26

Howard

0

26

0

41

46

113

349

1.02

1.24

 

 

Indiana Top Foreclosure Totals by County – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg July 09

% Chg Aug 08

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

6.74

32.32

Indiana

0

742

0

2,169

3,511

6,422

433

23.83

21.67

 

 

 

 

 

 

 

 

 

 

Marion

0

367

0

510

2,571

3,448

121

85.68

120.88

Lake

0

73

0

227

169

469

446

10.87

-50.48

Allen

0

62

0

123

118

303

503

-5.61

-24.63

St Joseph

0

2

0

182

27

211

539

54.01

-22.99

Hamilton

0

18

0

118

72

208

478

-19.69

0.00

 

 

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