Maine Foreclosure Activity Rises Slightly in April

Statewide foreclosure filings up 1 percent from March

 

Monthly foreclosure activity in Maine increased in April, up 1 percent from the previous month to 412 properties with foreclosure filings. This latest state total also represents a 66 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Maine foreclosures were up slightly in April,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in bank-owned properties, which climbed 60 percent during the month. The state’s unemployment rate is still above the national average, which has likely contributed to the rise.”

 

Maine ranked 41st in the country in total foreclosures reported for the month. With one in every 1,700 housing units receiving a foreclosure filing, its foreclosure rate ranked 41st again among the 50 states.

 

York County posts top foreclosure rate for April

York County posted the highest county foreclosure rate in Maine for April, with one in every 657 housing units receiving a foreclosure filing — 2.6 times the state average. Penobscot County came in second, with one in every 807 housing units receiving a foreclosure filing — 2.1 times the state average. Kennebec County was third, with one in every 1,057 housing units receiving a foreclosure filing — 1.6 times the state average.

 

York County led the state in total foreclosures for April

York County led the way, reporting 160 properties with foreclosure filings for the month. Penobscot County came in second highest, documenting 88 properties with foreclosure filings. Reporting 57 properties with foreclosure filings for the month, Kennebec County ranked third highest. Cumberland County was fourth, reporting 47 properties with foreclosure filings, while Androscoggin County came in fifth, reporting 28 properties with foreclosure filings.

 

State contributes less than 1 percent to nation’s month foreclosure total

Maine accounted for less than 1 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: DefaultNotice 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.

 

 

Maine 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

Maine

0

112

0

196

104

412

1,700

0.23

n/a

 

 

 

 

 

 

 

 

 

 

York

0

59

0

73

28

160

657

0.59

2.59

Penobscot

0

28

0

43

17

88

807

0.48

2.11

Kennebec

0

25

0

23

9

57

1,057

0.37

1.61

Androscoggin

0

0

0

16

12

28

1,727

0.22

0.98

Sagadahoc

0

0

0

6

4

10

1,785

0.22

0.95

 

 

 

Maine Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Jan 10

% Chg Feb 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Maine

0

112

0

196

104

412

1,700

1.48

66.13

 

 

 

 

 

 

 

 

 

 

York

0

59

0

73

28

160

657

15.94

142.42

Penobscot

0

28

0

43

17

88

807

-10.20

-2.22

Kennebec

0

25

0

23

9

57

1,057

-3.39

-6.56

Cumberland

0

0

0

23

24

47

2,846

30.56

95.83

Androscoggin

0

0

0

16

12

28

1,727

-22.22

2,700.00

 

 

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