Kentucky Foreclosure Activity Declines in January

Statewide filings down 11 percent from December

 

Foreclosure activity in Kentucky decreased in January to 1,151 properties with foreclosure filings, an 11 percent decline from December 2009, but still up 72 percent from January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 1,669 Kentucky housing units received a foreclosure filing in January, the 39th highest foreclosure rate in the nation.

 

Kentucky reported a lull in foreclosure activity in January, though activity in the Bluegrass State remained nearly double what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Contributing to the foreclosure problem, poverty within the state remains high at over 17 percent and one in ten residents is currently out of work.”

 

Jefferson County posts state’s top foreclosure rate for January

Jefferson County posted the state’s highest county foreclosure rate in January, with one in every 556 housing units receiving a foreclosure. Kenton County had the second highest foreclosure rate, with one in every 556 housing units receiving a foreclosure. Christian County was third, with one in every 584 housing units receiving a foreclosure filing. Campbell County came in fourth highest, with one in every 585 housing units receiving a foreclosure filing. Boone County posted the fifth highest rate, where one in every 751 housing units received a foreclosure filing during the month.

 

Jefferson County also led the state in total foreclosure filings for January

Jefferson County also had the highest foreclosure total, reporting 596 properties with foreclosure filings. Kenton County had the second highest foreclosure total, documenting 126 properties with foreclosure filings. Fayette County had the third highest foreclosure total, reporting 98 properties with foreclosure filings for the month. Campbell County came in fourth highest, reporting 67 properties with foreclosure filings, followed by Boone County where 60 properties with foreclosure filings were reported.

 

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

Kentucky accounted for less than 1 percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 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.

 

 

Kentucky Top Foreclosure Rates By County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

Kentucky

0

349

0

407

395

1,151

1,669

0.24

n/a

 

 

 

 

 

 

 

 

 

 

Jefferson

0

259

0

151

186

596

556

0.73

3.00

Kenton

0

0

0

62

64

126

562

0.72

2.97

Christian

0

20

0

19

11

50

584

0.69

2.86

Campbell

0

42

0

16

9

67

585

0.69

2.85

Boone

0

0

0

45

15

60

751

0.54

2.22

 

 

Kentucky Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

Kentucky

0

349

0

407

395

1,151

1,669

-10.57

71.54

 

 

 

 

 

 

 

 

 

 

Jefferson

0

259

0

151

186

596

556

-13.75

66.95

Kenton

0

0

0

62

64

126

562

-11.27

-10.00

Fayette

0

0

0

80

18

98

1,359

-37.18

13.95

Campbell

0

42

0

16

9

67

585

3.08

3,250.00

Boone

0

0

0

45

15

60

751

100.00

650.00

 

 

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