Maine Foreclosure Activity Up 1 Percent in November

Statewide filings up 22 percent from November 2008

 

Maine foreclosure activity rose for the month of November to 365 properties with foreclosure filings, up 1 percent from the previous month, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The monthly total is 22 percent ahead of the level reported in November 2008.

 

“The number of Maine foreclosure filings increased slightly in November, though the state continues to fair better than much of the nation,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state also remains below the national average, giving residents a glimmer of hope that the trend toward mounting foreclosures might begin to slow in 2010.”

 

One in every 1,909 Maine housing units received a foreclosure filing in November, the 41st highest foreclosure rate in the nation.

 

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

York County posted the highest county foreclosure rate in the state for November, with one in every 794 housing units receiving a foreclosure filing — 2.4 times the state average. Kennebec County had the second highest rate, with one in every 809 housing units receiving a foreclosure filing — 2.4 times the state average. Penobscot County came in third highest, with one in every 1,683 housing units receiving a foreclosure filing.

 

York County led state in total foreclosure filings for November

York also led all counties in Maine, totaling 131 properties with foreclosure filings for the month. Kennebec County had the second highest total, documenting 74 properties with foreclosure filings. Reporting 50 properties with foreclosure filings for the month, Cumberland County had the third highest total in the state, while Penobscot County was fourth highest, reporting 42 properties with foreclosure filings for the month.

 

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

Maine 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.

 

 

Maine 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

Maine

0

39

0

234

92

365

1,909

0.22

n/a

 

 

 

 

 

 

 

 

 

 

York

0

19

0

81

31

131

794

0.53

2.40

Kennebec

0

20

0

44

10

74

809

0.52

2.36

Penobscot

0

0

0

27

15

42

1,683

0.25

1.13

Sagadahoc

0

0

0

7

3

10

1,776

0.23

1.07

Somerset

0

0

0

8

4

12

2,404

0.17

0.79

 

 

Maine 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

Maine

0

39

0

234

92

365

1,909

0.55

21.67

 

 

 

 

 

 

 

 

 

 

York

0

19

0

81

31

131

794

-2.96

114.75

Kennebec

0

20

0

44

10

74

809

1.37

60.87

Cumberland

0

0

0

39

11

50

2,658

42.86

0.00

Penobscot

0

0

0

27

15

42

1,683

-52.27

-42.47

Androscoggin

0

0

0

16

3

19

2,539

375.00

0.00

 

 

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