Indiana Foreclosure Activity Decreases 10 Percent in 2009

Statewide filings up 48 percent from 2007 and 13 percent from November

 

Indiana ended 2009 tallying 41,405 properties with foreclosure filings, a 10 percent decrease from the total reported for 2008, and 48 percent higher than the level reported for all of 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Indiana reported 4,741 properties with foreclosure filings in December, a 13 percent increase over the previous month, but down less than 1 percent from December 2008. The state’s foreclosure rate — one in every 586 housing units received a foreclosure filing — was 18th highest in the nation for the month.

 

“Even with a significant increase in activity between November and December, Indiana reported an decrease in foreclosure filings compared to last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment remained high late in the year at a level that was almost at the national average. Still, the state remains in better shape economically than its neighboring states.”

 

With one in every 67 housing units receiving a foreclosure filing, Indiana’s foreclosure rate ranked 18th highest in the nation for the year.

 

Howard County posted state’s highest foreclosure rate for 2009

With one in every 28 housing units receiving a foreclosure filing in 2009, Howard County posted the highest county foreclosure rate in the state for the year. Marion County followed in second, reporting one in every 30 housing units receiving a foreclosure filing. Madison County came in third highest, reporting one in every 38 housing units receiving a foreclosure filing. Johnson County was fourth highest with one in every 41 housing units receiving a foreclosure filing. Fifth highest rate was in Miami County, where one in every 48 housing units receiving a foreclosure filing during the year.

 

Marion County led state in foreclosure activity for 2009

Marion County led all counties in foreclosure activity for all of 2009, reporting 13,973 properties with foreclosure filings. Lake County came in second, documenting 4,179 properties with foreclosure filings. Reporting 2,250 properties with foreclosure filings for the year, Allen County had the third highest total in the state. St. Joseph County was fourth highest, reporting 1,710 properties with foreclosure filings, followed by Madison County in fifth place, tallying 1,543 properties with foreclosure filings for all of 2009.

 

State a minor contributor to nation’s foreclosure total in 2009

Indiana accounted for 1 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

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: 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 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: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Indiana

41,405

1.49

67

-9.87

47.98

 

 

 

 

 

 

Howard

1,415

3.59

28

80.03

123.19

Marion

13,973

3.34

30

-14.24

4.15

Madison

1,543

2.60

38

-17.13

134.14

Johnson

1,363

2.46

41

16.60

395.64

Miami

327

2.07

48

-6.84

595.74

 

 

Indiana Top Foreclosure Totals by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Indiana

41,405

1.49

67

-9.87

47.98

 

 

 

 

 

 

Marion

13,973

3.34

30

-14.24

4.15

Lake

4,179

2.00

50

-23.78

53.75

Allen

2,250

1.48

68

-25.22

-11.56

St. Joseph

1,710

1.50

67

-17.39

-7.52

Madison

1,543

2.60

38

-17.13

134.14

 

 

Indiana Top Foreclosure Rates By County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

Indiana

0

1,369

0

1,648

1,724

4,741

586

0.62

n/a

 

 

 

 

 

 

 

 

 

 

Johnson

0

57

0

67

144

268

207

1.77

2.83

Marion

0

694

0

477

637

1,808

231

1.58

2.53

Fayette

0

13

0

9

15

37

305

1.20

1.92

Howard

0

29

0

65

28

122

323

1.13

1.81

Tippecanoe

0

64

0

33

85

182

368

0.99

1.59

 

 

Indiana Top Foreclosure Totals by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

Indiana

0

1,369

0

1,648

1,724

4,741

586

12.53

-0.63

 

 

 

 

 

 

 

 

 

 

Marion

0

694

0

477

637

1,808

231

49.79

-2.06

Lake

0

139

0

163

109

411

509

17.43

-10.26

Johnson

0

57

0

67

144

268

207

14.53

51.41

Allen

0

42

0

76

137

255

597

-4.49

-14.14

Tippecanoe

0

64

0

33

85

182

368

38.93

55.56

 

 

 

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