Maine Foreclosure Activity Up in February

Statewide filings increase 6 percent from January; Up 44 percent from February 2009

 

Foreclosure activity in Maine increased in February to 378 properties with foreclosure filings, up 6 percent from the previous month and 45 percent above the level reported in February 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Maine foreclosures were up slightly in February,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in default notices, which climbed 53 percent for the month. Even so, the state has less activity than most states right now. The increase in home sales and relatively low unemployment rate here is definitely helping to keep it that way.”

 

Maine ranked 41st in the country in total foreclosures reported for the month. With one in every 1,853 housing units receiving a foreclosure filing, its foreclosure rate ranked 39th among the 50 states.

 

Penobscot County posts top foreclosure rate in the state for February

Penobscot County posted the state’s highest county foreclosure rate in February, with one in every 825 housing units receiving a foreclosure filing — 2.2 times the state average. York County was second, with one in every 964 housing units receiving a foreclosure filing — 1.9 times the state average. Kennebec County came in third highest, with one in every 988 housing units receiving a foreclosure filing — 1.9 times the state average.

 

York County led the state in total foreclosures in February

York County led the way, totaling 109 properties with foreclosure filings for the month. Penobscot County was second, documenting 86 properties with foreclosure filings. Kennebec County ranked third highest, reporting 61 properties with foreclosure filings for the month. Cumberland came in fourth place, reporting 53 properties with foreclosure filings, while Androscoggin County came in fifth place, reporting 35 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 308,524 properties with foreclosure filings reported nationwide in February. Total U.S. activity declined more than 2 percent from the previous month but was still 6 percent ahead of February 2009. One in every 418 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 – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

n/a

n/a

Maine

0

55

0

204

119

378

1,853

0.23

n/a

 

 

 

 

 

 

 

 

 

 

Penobscot

0

20

0

39

27

86

825

0.51

2.24

York

0

26

0

61

22

109

964

0.43

1.92

Kennebec

0

9

0

38

14

61

988

0.42

1.88

Androscoggin

0

0

0

22

13

35

1,382

0.30

1.34

Cumberland

0

0

0

27

26

53

2,524

0.17

0.73

 

 

 

 

Maine Top Foreclosure Totals by County – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

% Chg

Jan 10

% Chg

Feb 09

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

-2.28

6.22

Maine

0

55

0

204

119

378

1,853

5.88

44.83

 

 

 

 

 

 

 

 

 

 

York

0

26

0

61

22

109

964

26.74

2.83

Penobscot

0

20

0

39

27

86

825

132.43

30.30

Kennebec

0

9

0

38

14

61

988

-37.11

79.41

Cumberland

0

0

0

27

26

53

2,524

-15.87

120.83

Androscoggin

0

0

0

22

13

35

1,382

40.00

288.89

 

 

 

 

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