Indiana Foreclosure Activity Slows Down in July

Statewide foreclosure filings down 10 percent from June

 

Foreclosure activity in Indiana decreased 10 percent in July to 4,876 properties with foreclosure filings, 6 percent below the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Indiana’s foreclosure activity was down in July,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decrease was in auctions, which fell 14 percent for the month. Although still above the national average, the state’s unemployment rate has come down slightly from this time last year. Its home values also did not decline as far as most states. These factors are definitely contributing to the overall decline.”

 

Indiana ranked 17th in the country in total foreclosures reported for the month. With one in every 573 housing units receiving a foreclosure filing, its foreclosure rate ranked 17th again among the 50 states.

 

Marion County posts top county foreclosure rate in July

Marion County posted the top foreclosure rate in Indiana for the month, one in every 238 housing units receiving a foreclosure filing in July. Hancock County posted the second highest foreclosure rate, with one in every 343 housing units receiving a foreclosure filing during the month. Coming in third was Noble County, where one in every 347 housing units received a foreclosure filing in July.

 

Marion County dominates state with top foreclosure total for July

Marion County led Indiana in total foreclosure activity, reporting 1,764 properties with foreclosure filings in July. Lake County posted the second highest foreclosure activity, reporting 531 properties with foreclosure filings. Allen County came in third highest, tallying 217 properties with foreclosure filings. Fourth highest was Elkhart County, where 206 properties with foreclosure filings were reported. Madison County was fifth, reporting 171 properties with foreclosure filings for the month.

 

State contributes 1 percent to nation’s monthly foreclosure total

Indiana accounted for 1 percent of the 325,229 properties with foreclosure filings reported nationwide in July. Total U.S. activity increased by more than 3 percent from the previous month but was down almost 10 percent from the level reported in July 2009. One in every 397 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 – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

n/a

n/a

Indiana

0

1,337

0

1,917

1,622

4,876

573

0.69

n/a

 

 

 

 

 

 

 

 

 

 

Marion

0

667

0

586

511

1,764

238

1.67

2.41

Hancock

0

19

0

47

15

81

343

1.16

1.67

Noble

0

22

0

30

5

57

347

1.14

1.65

Madison

0

71

0

37

63

171

348

1.14

1.65

Howard

0

48

0

2

63

113

348

1.14

1.64

 

 

Indiana Top Foreclosure Totals by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

3.63

-9.70

Indiana

0

1,337

0

1,917

1,622

4,876

573

-10.24

-5.98

 

 

 

 

 

 

 

 

 

 

Marion

0

667

0

586

511

1,764

238

1.79

-5.01

Lake

0

195

0

200

136

531

397

20.68

25.53

Allen

0

36

0

98

83

217

704

-31.76

-32.40

Elkhart

0

37

0

91

78

206

378

-5.94

-16.60

Madison

0

71

0

37

63

171

348

-42.03

-35.47

 

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