Indiana Foreclosure Activity Declines in January

Statewide filings down 3 percent from December; Up 1 percent from a year ago

 

Foreclosure activity in Indiana decreased in January to 4,622 properties with foreclosure filings, a 3 percent decline from December 2009, but still up one percent from January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Indiana foreclosures were down slightly in January,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decrease was in bank-owned properties, which dropped 27 percent for the month. Home sales throughout the state picked up significantly during the fourth quarter. This may be contributing to the recent decline.”

 

Indiana ranked 16th in the country in total foreclosures reported for the month. With one in every 605 housing units receiving a foreclosure filing, its foreclosure rate ranked 18th among the 50 states.

 

Marion County posts top foreclosure rate in the state for January

Marion County posted the state’s highest county foreclosure rate in January, with one in every 266 housing units receiving a foreclosure filing — 2.3 times the state average. Howard County was second, with one in every 294 housing units receiving a foreclosure filing — 2.1 times the state average. Miami County came in third highest foreclosure rate, with one in every 343 housing units receiving a foreclosure filing — 1.8 times the state average. Vigo County posted the fourth highest foreclosure rate, where one in every 352 housing units received a foreclosure filing during the month — 1.7 times the state average. Johnson County documented the fifth highest foreclosure rate, where one in every 371 housing units received a foreclosure filing during the month — 1.6 times the state average.

 

Marion County also dominates state in total foreclosure filings for January

Marion County led all counties, totaling 1,574 properties with foreclosure filings for the month. Lake County was second highest, documenting 425 properties with foreclosure filings. Reporting 294 properties with foreclosure filings for the month, Allen County had the third highest total. St. Joseph County came in fourth highest, reporting 160 properties with foreclosure filings, followed by Elkhart County where 153 properties with foreclosure filings were reported.

 

State responsible for less than one percent of nation’s foreclosure total in January

Indiana accounted for less than one percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: DefaultNotice 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 received for a property during the month, 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 – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

Indiana

0

1,599

0

1,762

1,261

4,622

605

0.68

n/a

 

 

 

 

 

 

 

 

 

 

Marion

0

772

0

464

338

1,574

266

1.52

2.27

Howard

0

66

0

37

31

134

294

1.38

2.06

Miami

0

15

0

22

9

46

343

1.18

1.76

Vigo

0

38

0

64

33

135

352

1.15

1.72

Johnson

0

32

0

65

54

151

371

1.09

1.63

 

           

 

Indiana Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

Indiana

0

1,599

0

1,762

1,261

4,622

605

-2.51

1.45

 

 

 

 

 

 

 

 

 

 

Marion

0

772

0

464

338

1,574

266

-12.94

0.64

Lake

0

106

0

152

167

425

496

3.41

-4.49

Allen

0

100

0

104

90

294

520

15.29

-34.67

St. Joseph

0

7

0

63

90

160

716

-2.44

-35.22

Elkhart

0

23

0

68

62

153

509

34.21

2.68

 

 

 

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