MAINE FORECLOSURE ACTIVITY UP 622 PERCENT IN MARCH

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 442 Percent From A Year Ago

 

IRVINE, Calif. – April 23, 2007 – Maine reported 65 foreclosure filings in March, a 622 percent increase from the previous month and a 442 percent increase from March 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

Higher energy costs brought on by colder temperatures typically burden homeowners financially,” said James J. Saccacio, chief executive officer of RealtyTrac. However, even with this latest spike in activity, Maine’s foreclosure rate remains one of the lowest in the nation.”

 

Maine ranked 46th in the country in total foreclosures reported for March. The state’s foreclosure rate of one foreclosure filing for every 10,029 households ranked 45th among the 50 states.

 

York County accounts for most of state’s foreclosure activity

York County led the state in foreclosure activity, reporting 56 foreclosure filings for the month. Cumberland County had the second highest total, reporting three foreclosure filings.

 

York County leads state in foreclosure rate

York County posted the highest foreclosure rate in Maine for March, reporting one foreclosure filing for every 1,683 households — six times the state average. Piscataquis County had the second highest foreclosure rate, reporting one filing for every 13,783 households.

 

State has minimal impact on national total for March

Total foreclosure filings in Maine accounted for less than 1 percent of the 149,150 foreclosure filings nationwide in March. The national total was up almost 7 percent from the previous month, and surged 47 percent from March 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 775 U.S. households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

                           Maine Foreclosure Market by County – March 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,134

51,203

8,906

19,416

22,491

149,150

775

n/a

n/a

Maine

34

24

0

0

7

65

10,029

0.08

n/a

 

 

 

 

 

 

 

 

 

 

Androscoggin

1

1

0

0

0

2

22,980

0.03

0.44

Aroostook

0

0

0

0

0

0

n/a

0.00

0.00

Cumberland

1

2

0

0

0

3

40,867

0.02

0.25

Franklin

0

0

0

0

0

0

n/a

0.00

0.00

Hancock

0

0

0

0

0

0

n/a

0.00

0.00

Kennebec

0

0

0

0

0

0

n/a

0.00

0.00

Knox

0

0

0

0

0

0

n/a

0.00

0.00

Lincoln

1

0

0

0

0

1

20,849

0.04

0.48

Oxford

0

0

0

0

0

0

n/a

0.00

0.00

Penobscot

0

0

0

0

0

0

n/a

0.00

0.00

Piscataquis

0

1

0

0

0

1

13,783

0.06

0.73

Sagadahoc

0

0

0

0

0

0

n/a

0.00

0.00

Somerset

0

2

0

0

0

2

14,111

0.05

0.71

Waldo

0

0

0

0

0

0

n/a

0.00

0.00

Washington

0

0

0

0

0

0

n/a

0.00

0.00

York

31

18

0

0

7

56

1,683

0.46

5.96

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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