Indiana Foreclosure Activity Down Slightly in November

Statewide filings down 4 percent from October; down 6 percent from previous year

 

Indiana foreclosure activity fell in November to 4,213 properties with foreclosure filings, down 4 percent from the previous month, and 6 percent below the level reported in November 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Indiana foreclosures fell during November and from the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac “The largest decrease was in bank-owned properties, which declined 29 percent for the month. The state’s unemployment rate also dropped during the month, while home sales continued to improve. These factors are contributing drivers to the recent decline in foreclosure activity.”

 

Indiana ranked 17th in the country in total foreclosures for the month. With one in every 659 housing units receiving a foreclosure filing, its foreclosure rate ranked 17th among the 50 states.

 

Johnson County posts state’s highest foreclosure rate in November

With one in every 237 housing units receiving a foreclosure filing — 1.8 times the national average and 2.8 times the state average — Johnson County posted the highest county foreclosure rate in the state for November. Elkhart County had the second highest rate, with one in every 305 housing units receiving a foreclosure filing — 1.4 times the national average and 2.2 times the state average. Miami County came in third highest, with one in every 344 housing units receiving a foreclosure filing — 1.2 times the national average and 1.9 times the state average.

 

Five counties responsible for bulk of state’s foreclosure total in November

Five counties accounted for 56 percent of all foreclosure activity in the state during November. Marion County led all counties, totaling 1,207 properties with foreclosure filings for the month. Lake County was second highest, documenting 350 properties with foreclosure filings. Reporting 302 properties with foreclosure filings for the month, St. Joseph County had the third highest total in the state. Allen County was fourth highest, reporting 267 properties with foreclosure filings, while Elkhart County was fifth highest, reporting 254 properties with foreclosure filings for the month.

 

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

Indiana accounted for 1 percent of the 306,627 properties with foreclosure filings reported nationwide in November. Total U.S. activity declined nearly 8 percent from the previous month but was still 18 percent ahead of November 2008. One in every 417 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 – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

n/a

n/a

Indiana

0

1,344

0

1,477

1,392

4,213

659

0.63

n/a

 

 

 

 

 

 

 

 

 

 

Johnson

0

75

0

113

46

234

237

1.76

2.78

Elkhart

0

45

0

82

127

254

305

1.37

2.17

Miami

0

9

0

19

18

46

344

1.21

1.92

Marion

0

678

0

319

210

1,207

346

1.20

1.90

St. Joseph

0

0

0

78

224

302

377

1.11

1.75

 

 

Indiana Top Foreclosure Totals by County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 09

% Chg Nov 08

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

– 7.72

18.35

Indiana

0

1,344

0

1,477

1,392

4,213

659

– 3.94

– 6.02

 

 

 

 

 

 

 

 

 

 

Marion

0

678

0

319

210

1,207

346

-24.80

-22.38

Lake

0

131

0

109

110

350

598

-2.23

-23.25

St. Joseph

0

0

0

78

224

302

377

10.62

51.00

Allen

0

88

0

81

98

267

570

-28.42

-12.17

Elkhart

0

45

0

82

127

254

305

76.39

88.15

 

 

 

 

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