Kentucky Foreclosure Activity Down 13 Percent in November

Statewide filings up 136 percent from November 2008

 

Kentucky foreclosure activity fell in November to 1,007 properties with foreclosure filings, down 13 percent from the previous month, but still 136 percent ahead of the level reported in November 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity slowed down in Kentucky in November, although it remained more than double what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, with unemployment well above the national average, homeowners still have cause for concern as to whether they will be able to remain in their homes in 2010.”

 

Total foreclosure activity in Kentucky ranked 33rd among the 50 states in November. One in every 1,893 Kentucky housing units received a foreclosure filing during the month, the 40th highest foreclosure rate in the nation.

 

Jefferson County posts state’s top foreclosure rate and total in November

With one in every 539 housing units receiving a foreclosure filing — 3.5 times the state average — Jefferson County posted the highest county foreclosure rate in the state for November. Jefferson County also led the state in foreclosure activity, reporting 609 properties with foreclosure filings for the month.

 

With one in every 574 housing units receiving a foreclosure filing — 3.3 times the state average — Boone County had the second highest foreclosure rate in the state. Kenton County came in third highest, with one in every 683 housing units receiving a foreclosure filing — 2.8 times the state average.

 

Kenton County was second highest in foreclosure activity, documenting 103 properties with foreclosure filings. Reporting 77 properties with foreclosure filings for the month, Boone County had the third highest total in the state. Fayette County was fourth highest, reporting 71 properties with foreclosure filings, while Christian County reported 30 properties with foreclosure filings for the month.

 

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

Kentucky accounted for less than 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: 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 – 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

Kentucky

0

250

0

406

351

1,007

1,893

0.22

n/a

 

 

 

 

 

 

 

 

 

 

Jefferson

0

216

0

208

185

609

539

0.77

3.51

Boone

0

0

0

72

5

77

574

0.73

3.30

Kenton

0

0

0

76

27

103

683

0.61

2.77

Webster

0

6

0

0

2

8

806

0.52

2.35

Christian

0

11

0

10

9

30

965

0.43

1.96

 

 

Kentucky 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

Kentucky

0

250

0

406

351

1,007

1,893

-13.49

135.83

 

 

 

 

 

 

 

 

 

 

Jefferson

0

216

0

208

185

609

539

-2.25

600.00

Kenton

0

0

0

76

27

103

683

-9.65

212.12

Boone

0

0

0

72

5

77

574

862.50

862.50

Fayette

0

0

0

34

37

71

1,859

-4.05

26.79

Christian

0

11

0

10

9

30

965

-11.76

150.00

 

 

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