Indiana Foreclosure Activity Down in February

Statewide filings decrease 6 percent from January

 

Foreclosure activity in Indiana decreased in February to 4,361 properties with foreclosure filings, down 6 percent from the previous month and 1 percent below the level reported in February 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Indiana foreclosure filings dropped in February to a level slightly below what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state now matches the national average at 9.7 percent, though some industries, including manufacturing and financial services, are reportedly seeing some modest growth.”

 

One in every 641 Indiana housing units received a foreclosure filing in February, the 17th highest rate in the nation.

 

Johnson County posts top foreclosure rate in the state for February

Johnson County posted the state’s highest county foreclosure rate in February, with one in every 271 housing units receiving a foreclosure filing — 2.4 times the state average. Marion County was second, with one in every 273 housing units receiving a foreclosure filing — 2.4 times the state average. Madison County came in third highest, with one in every 292 housing units receiving a foreclosure filing — 2.2 times the state average.

 

Marion County led the state in total foreclosures in February

Marion County led the way, totaling 1,535 properties with foreclosure filings for the month. Lake County was second, documenting 428 properties with foreclosure filings. Allen County ranked third highest, reporting 259 properties with foreclosure filings for the month. Johnson County came in fourth place, reporting 207 properties with foreclosure filings, while the fifth highest total was in Madison County, where 204 properties with foreclosure filings were reported for the month.

 

State a moderate contributor to nation’s month foreclosure total

Indiana accounted for 1 percent of the 308,524 properties with foreclosure filings reported nationwide in February. Total U.S. activity declined more than 2 percent from the previous month but was still 6 percent ahead of February 2009. One in every 418 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: 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 – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

n/a

n/a

Indiana

0

1,329

1

1,517

1,514

4,361

641

0.65

n/a

 

 

 

 

 

 

 

 

 

 

Johnson

0

88

0

78

41

207

271

1.54

2.37

Marion

0

564

1

439

531

1,535

273

1.53

2.35

Madison

0

74

0

81

49

204

292

1.43

2.20

Hancock

0

13

0

40

39

92

302

1.38

2.12

Howard

0

47

0

42

30

119

331

1.26

1.94

 

 

Indiana Top Foreclosure Totals by County – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Jan 10

% Chg Feb 09

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

-2.28

6.22

Indiana

0

1,329

1

1,517

1,514

4,361

641

-5.65

-1.02

 

 

 

 

 

 

 

 

 

 

Marion

0

564

1

439

531

1,535

273

-2.48

-6.40

Lake

0

141

0

143

144

428

492

0.71

-2.06

Allen

0

90

0

72

97

259

590

-11.90

-30.75

Johnson

0

88

0

78

41

207

271

37.09

41.78

Madison

0

74

0

81

49

204

292

37.84

148.78

 

 

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