Indiana Foreclosure Activity Falls in October

Statewide filings down 2 percent from September

 

Indiana reported 4,386 properties with foreclosure filings in October, down 2 percent from the previous month and 19 percent below the level reported in October 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“October was the second consecutive month that Indiana reported declines in foreclosure activity both on a monthly and yearly basis,” said James J. Saccacio, chief executive officer of RealtyTrac . “For October, the largest reductions in foreclosure activity were seen in auction notices and bank-owned properties, both down 11 percent. The largest year-over-year change was seen in default and auction notices, both down 34 percent from October 2008.”

 

Indiana posted the 17th highest foreclosure total nationally for October. One in every 633 Indiana housing units received a foreclosure filing during the month, the 21st highest foreclosure rate in the nation.

 

Marion County tops state in foreclosure rate and activity in October

Marion County posted the highest county foreclosure rate in the state for October, with one in every 260 housing units receiving a foreclosure filing — 1.5 times the national average and 2.4 times the state average. The county also led the state in foreclosure activity, reporting 1,605 properties with foreclosure filings for the month.

 

With one in every 307 housing units receiving a foreclosure filing — 1.3 times the national average and 2.1 times the state average — Henry County posted the second highest rate in the state for the month. Madison County had the third highest rate, with one in every 321 housing units receiving a foreclosure filing — 1.2 times the national average and twice the state average. Fourth highest foreclosure rate was in Miami County, where one in every 368 housing units received a foreclosure filing during the month — 1.1 times the national average and 1.7 times the state average. Johnson County had the fifth highest rate, reporting one in every 402 housing units receiving a foreclosure filing — on par with the national average and 1.6 times the state average.

 

Allen County had the second highest state total, documenting 373 properties with foreclosure filings. Reporting 358 properties with foreclosure filings for the month, Lake County was third highest total in the state. St. Joseph County came in fourth, reporting 273 properties with foreclosure filings, while the fifth highest total was in Madison County, where 185 properties with foreclosure filings were reported for the month.

 

State a minor contributor to nation’s foreclosure activity in October

Indiana accounted for 1 percent of the 332,292 properties with foreclosure filings reported nationwide in October. Total U.S. activity declined 3 percent from the previous month but was still 19 percent ahead of October 2008. One in every 385 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 – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

n/a

n/a

Indiana

0

1,195

0

1,222

1,969

4,386

633

0.61

n/a

 

 

 

 

 

 

 

 

 

 

Marion

0

563

0

423

619

1,605

260

1.48

2.43

Henry

0

0

0

20

50

70

307

1.25

2.07

Madison

0

52

0

35

98

185

321

1.20

1.97

Miami

0

12

0

4

27

43

368

1.05

1.72

Johnson

0

28

0

64

46

138

402

0.96

1.58

 

 

Indiana Top Foreclosure Totals by County – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sept 09

% Chg Oct 08

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

-3.30

18.86

Indiana

0

1,195

0

1,222

1,969

4,386

633

-1.50

-18.84

 

 

 

 

 

 

 

 

 

 

Marion

0

563

0

423

619

1,605

260

7.94

-15.08

Allen

0

86

0

94

193

373

408

52.87

-17.66

Lake

0

133

0

106

119

358

585

-9.37

-41.41

St Joseph

0

1

0

71

201

273

417

63.47

35.15

Madison

0

52

0

35

98

185

321

112.64

1.65

 

 

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