MISSISSIPPI FORECLOSURE ACTIVITY DOWN 2 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Total Increases 105 Percent From August 2006

 

IRVINE, Calif. – Sept. 21, 2007 – Mississippi reported 164 foreclosure filings in August, a 2 percent decrease from the previous month, and a 105 percent increase from August 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.

 

Although Mississippi foreclosures have decreased slightly in August, the numbers have more than doubled since this time last year,” said James. J Saccacio, chief executive officer of RealtyTrac. “Recent statistics show that the state holds one of the highest unemployment rates in the nation. This is likely contributing to the overall rise.”

 

Mississippi ranked among the 10 lowest states in total foreclosures for the month. The state’s foreclosure rate of one foreclosure filing for every 7,534 households ranked it again among the 10 lowest states.

 

Hinds County leads the state in foreclosure total

Hinds County led the state in foreclosure activity for the month, with 70 foreclosure filings. De Soto County came in second with 46 foreclosure filings, followed by Madison County and Washington County with seven foreclosure filings each.

 

De Soto County posts highest foreclosure rate

De Soto County reported the highest foreclosure rate in the state for August, with one foreclosure filing for every 1,152 households — 6.5 times the state average. Hinds County posted the second highest foreclosure rate, with one foreclosure filing for every 1,493 households — five times the state average. Washington County posted the third highest foreclosure rate, with one foreclosure filing for every 3,565 households — 2.1 times the state average.

 

State contributes less than 1 percent to nation’s monthly total

Total foreclosure filings in Mississippi accounted for less than 1 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 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.

 

 

                         Mississippi Foreclosure Market by County – August 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

Mississippi

5

92

0

0

67

164

7,534

0.07

n/a

 

 

 

 

 

 

 

 

 

 

Alcorn

0

1

0

0

0

1

16,272

0.03

0.46

Amite

0

0

0

0

0

0

n/a

0.00

0.00

Bolivar

1

0

0

0

1

2

7,653

0.07

0.98

Coahoma

0

0

0

0

0

0

n/a

0.00

0.00

Copiah

0

0

0

0

0

0

n/a

0.00

0.00

De Soto

0

2

0

0

44

46

1,152

0.44

6.54

Forrest

0

0

0

0

0

0

n/a

0.00

0.00

George

0

0

0

0

1

1

7,750

0.07

0.97

Grenada

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

Harrison

0

2

0

0

0

2

44,069

0.01

0.17

Hinds

0

59

0

0

11

70

1,493

0.34

5.04

Holmes

0

0

0

0

0

0

n/a

0.00

0.00

Humphreys

0

1

0

0

0

1

4,169

0.12

1.81

Jackson

0

1

0

0

1

2

28,366

0.02

0.27

Jasper

0

0

0

0

0

0

n/a

0.00

0.00

Jefferson Davis

0

0

0

0

0

0

n/a

0.00

0.00

Jones

0

0

0

0

0

0

n/a

0.00

0.00

Lamar

0

1

0

0

1

2

7,985

0.06

0.94

Lauderdale

0

1

0

0

1

2

17,176

0.03

0.44

Lee

0

2

0

0

0

2

16,400

0.03

0.46

Lincoln

1

1

0

0

0

2

7,228

0.07

1.04

Lowndes

1

1

0

0

0

2

13,060

0.04

0.58

Madison

0

6

0

0

1

7

4,873

0.10

1.55

Marion

0

0

0

0

1

1

10,654

0.05

0.71

Marshall

0

0

0

0

1

1

13,956

0.04

0.54

Monroe

1

1

0

0

0

2

8,297

0.06

0.91

Pearl River

0

2

0

0

0

2

11,261

0.05

0.67

Pike

1

0

0

0

0

1

17,080

0.03

0.44

Pontotoc

0

1

0

0

0

1

11,291

0.05

0.67

Rankin

0

0

0

0

0

0

n/a

0.00

0.00

Scott

0

2

0

0

0

2

5,736

0.09

1.31

Simpson

0

2

0

0

1

3

3,844

0.13

1.96

Stone

0

0

0

0

0

0

n/a

0.00

0.00

Sunflower

0

0

0

0

0

0

n/a

0.00

0.00

Tishomingo

0

0

0

0

0

0

n/a

0.00

0.00

Walthall

0

0

0

0

0

0

n/a

0.00

0.00

Warren

0

2

0

0

0

2

10,595

0.05

0.71

Washington

0

4

0

0

3

7

3,565

0.14

2.11

Yazoo

0

0

0

0

0

0

n/a

0.00

0.00

 

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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