MAINE FORECLOSURE ACTIVITY UP 8 PERCENT IN SEPTEMBER ACCORDING

Activity Up 726 Percent From September 2006

 

IRVINE, Calif. – Oct. 26, 2007 – Maine reported 157 foreclosure filings in September, an 8 percent increase from the previous month, and 726 percent above the number reported in September 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million 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.

 

Maine’s employment rate has decreased compared to last year and remains below the national average,” said James J. Saccacio, chief executive officer of RealtyTrac. “Not surprisingly, foreclosure activity within the state is now grossly elevated compared to the same time last year.”

 

Maine ranked 42nd in the country in total foreclosures reported for September. The state’s foreclosure rate of one foreclosure filing for every 4,355 households ranked it 42nd among the 50 states.

 

York County accounts for more than half of the state’s foreclosure activity

York County documented the highest foreclosure total in Maine for September, with 83 foreclosure filings for the month. Cumberland County reported the second highest foreclosure total, with 16 foreclosure filings. Androscoggin County posted the third highest foreclosure total, with 15 foreclosure filings.

 

York County posts highest foreclosure rate

York County tallied the highest foreclosure rate in Maine for September, with one foreclosure filing for every 1,220 households — 3.6 times the state average. Somerset County registered the second highest foreclosure rate, with one foreclosure filing for every 2,866 households — 1.5 times the state average. Androscoggin County came in third with a foreclosure rate of one foreclosure filing for every 3,176 households — 1.4 times the state average.

 

State makes minor contribution to nation’s monthly total

Total foreclosure filings in Maine accounted for less than 1 percent of the 223,538 foreclosure filings reported nationwide in September. The national total represents an 8 percent decrease from the previous month, but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 557 U.S. households for 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 – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

Maine

60

82

0

0

15

157

4,355

0.13

n/a

 

 

 

 

 

 

 

 

 

 

Androscoggin

1

12

0

0

2

15

3,176

0.18

1.37

Aroostook

0

1

0

0

0

1

39,181

0.01

0.11

Cumberland

1

15

0

0

0

16

8,135

0.07

0.53

Franklin

0

2

0

0

0

2

9,948

0.06

0.43

Hancock

0

1

0

0

0

1

36,134

0.02

0.12

Kennebec

0

6

0

0

2

8

7,338

0.08

0.59

Knox

1

0

0

0

0

1

22,980

0.02

0.19

Lincoln

0

0

0

0

0

0

n/a

0.00

0.00

Oxford

0

2

0

0

0

2

16,892

0.03

0.25

Penobscot

0

13

0

0

0

13

5,333

0.10

0.81

Piscataquis

0

0

0

0

0

0

n/a

0.00

0.00

Sagadahoc

1

0

0

0

0

1

17,348

0.03

0.25

Somerset

0

9

0

0

1

10

2,866

0.19

1.52

Waldo

0

0

0

0

1

1

19,981

0.03

0.21

Washington

0

1

0

0

2

3

7,530

0.07

0.57

York

56

20

0

0

7

83

1,220

0.46

3.57

 

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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