MAINE FORECLOSURES INCREASE 50 PERCENT IN JANUARY

ACCORDING TO REALTYTRAC™  U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Down 59 Percent From a Year Ago

 

IRVINE, Calif. – Feb. 25, 2007 – Maine documented nine foreclosure filings in January, a 50 percent increase from the previous month, but a 59 percent decrease from January 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 850,000 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.

 

“Although Maine foreclosures increased in January, the state consistently holds one of the lowest foreclosure rates nationwide,” said James J. Saccacio, chief executive officer of RealtyTrac. “Despite the monthly fluctuations from time to time, it is likely that Maine will continue to show one of the lower foreclosure numbers throughout 2007.”

 

Maine registered the second lowest state foreclosures total for January. The state’s foreclosure rate of one new foreclosure filing for every 72,432 households ranked second lowest among state foreclosure rates once again.

 

Cumberland accounts for largest share of state total

Cumberland County led the state in total foreclosures in January, reporting three new filings. Documenting two new filings for the month, York County registered the second highest total. Androscoggin, Kennebec, Penobscot and Piscataquis Counties came in third, each reporting one new filing.

 

Highest foreclosure rate found in Piscataquis County

Piscataquis County held the highest foreclosure rate in Maine for January, with one new foreclosure filing for every 13,783 households — 5.3 times the state average. Cumberland County registered the second highest rate, with one new foreclosure filing for every 40,867 households — 1.8 times the state average — followed by Androscoggin County with one new foreclosure filing for every 45,960 households — 1.6 times the state average.

 

State contributes less than 1 percent to national total

Maine accounted for less than 1 percent of the 130,511 foreclosure filings nationwide in January. The national total represents a 19 percent increase in activity from the 109,652 foreclosure filings reported in December. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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 – January 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,317

52,326

6,983

19,980

23,905

130,511

886

n/a

n/a

Maine

5

4

0

0

0

9

72,432

0.01

n/a

 

 

 

 

 

 

 

 

 

 

Androscoggin

1

0

0

0

0

1

45,960

0.02

1.58

Aroostook

0

0

0

0

0

0

 

0.00

0.00

Cumberland

2

1

0

0

0

3

40,867

0.02

1.77

Franklin

0

0

0

0

0

0

 

0.00

0.00

Hancock

0

0

0

0

0

0

 

0.00

0.00

Kennebec

0

1

0

0

0

1

56,364

0.02

1.29

Knox

0

0

0

0

0

0

 

0.00

0.00

Lincoln

0

0

0

0

0

0

 

0.00

0.00

Oxford

0

0

0

0

0

0

 

0.00

0.00

Penobscot

0

1

0

0

0

1

66,847

0.01

1.08

Piscataquis

0

1

0

0

0

1

13,783

0.06

5.26

Sagadahoc

0

0

0

0

0

0

 

0.00

0.00

Somerset

0

0

0

0

0

0

 

0.00

0.00

Waldo

0

0

0

0

0

0

 

0.00

0.00

Washington

0

0

0

0

0

0

 

0.00

0.00

York

2

0

0

0

0

2

47,117

0.02

1.54

 

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 construction properties, 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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