Indiana Foreclosure Activity Rises in April

Statewide filings up 9 percent from March; up 13 percent from year ago

 

Monthly foreclosure activity in Indiana rose in April, up 9 percent from the previous month to 5,679 properties with foreclosure filings. This latest state total also represents a 13 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Indiana foreclosure filings rose between March and April to a level well above what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state is now on par with the national average, although some industries, including manufacturing and financial services, are reportedly seeing some modest growth.”

 

Indiana ranked 14th in the nation for total foreclosure activity. The state had the 17th highest state foreclosure rate in the nation with one in 492 Indiana housing units receiving a foreclosure filing during the month.

 

Hancock County posts top foreclosure rate for April

With one in every 226 housing units receiving a foreclosure filing — 1.7 times the national average and 2.2 times the state average — Hancock County posted the highest county foreclosure rate in the state for the month. Marion County came in second, with one in every 235 housing units receiving a foreclosure filing — 1.7 times the national average and 2.1 times the state average. Newton County was third, with one in every 277 housing units receiving a foreclosure filing — 1.4 times the national average and 1.8 times the state average.

 

Marion County has top foreclosure total in Indiana for April

Marion County led all counties in the state, reporting 1,785 properties with foreclosure filings for the month. Lake County was second highest, documenting 524 properties with foreclosure filings. Reporting 269 properties with foreclosure filings for the month, Allen County ranked third highest. Hamilton County was fourth, reporting 263 properties with foreclosure filings. A total of 228 properties with foreclosure filings were reported in St Joseph County, the fifth highest county total in April.

 

State a modest contributor to nation’s month foreclosure total

Indiana accounted for 2 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 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 – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Indiana

0

1,515

0

2,170

1,994

5,679

492

0.79

n/a

 

 

 

 

 

 

 

 

 

 

Hancock

0

15

0

47

61

123

226

1.71

2.18

Marion

0

781

0

566

438

1,785

235

1.65

2.10

Newton

0

0

0

6

16

22

277

1.39

1.77

Miami

0

26

0

18

11

55

287

1.35

1.71

Jackson

0

0

0

2

62

64

288

1.34

1.71

 

 

Indiana Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 10

% Chg Apr 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Indiana

0

1,515

0

2,170

1,994

5,679

492

9.00

13.15

 

 

 

 

 

 

 

 

 

 

Marion

0

781

0

566

438

1,785

235

2.59

4.08

Lake

0

167

0

246

111

524

402

11.49

39.73

Allen

0

45

0

127

97

269

568

-6.92

-32.75

Hamilton

0

28

0

145

90

263

389

132.74

32.83

St. Joseph

0

5

0

163

60

228

502

11.22

13.43

 

 

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