MISSISSIPPI FORECLOSURE ACTIVITY DOWN 9 PERCENT IN FEBRUARY

Yearly Foreclosure Activity Up 3 Percent From February 2007

 

IRVINE, Calif. – March 26, 2008 – Mississippi reported 148 properties with foreclosure filings for February 2008, a 9 percent decrease in activity from the previous month, but is still 3 percent above the level reported for February 2007, 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.

 

“Unemployment continues to rise in Mississippi, though foreclosure activity seems relatively stable within the state for now,” said James J. Saccacio, chief executive officer of RealtyTrac. “Since foreclosure activity is a lagging indicator of economic stability, this elevated level of unemployment could continue for a bit longer before any major effects are noticed within the housing market.

 

Mississippi ranked 44th in the country in total properties with foreclosure filings reported for February. One in every 8,348 Mississippi households received a foreclosure filing during the month, ranking the state 46th among the 50 states.

 

Hinds County leads state in foreclosure activity

Hinds County led the state in foreclosure activity in February, reporting 60 properties with foreclosure filings. Second place De Soto County documented 58 properties with foreclosure filings, while third place Madison County reported seven properties with foreclosure filings.

 

De Soto County posts highest foreclosure rate

De Soto County led the way with a foreclosure rate of one in every 913 households receiving a foreclosure filing for the month — 9.1 times the state average. Hinds County posted the state’s second highest foreclosure rate, one in every 1,742 households receiving a foreclosure filing — 4.8 times the state average. Madison County documented the third highest foreclosure rate, one in every 4,873 households receiving a foreclosure filing in February.

 

State a minor contributor to nation’s foreclosure total in February

Total foreclosure filings in Mississippi accounted for less than 1 percent of the 223,651 properties with foreclosure filings reported nationwide in February. The national total represents a 4 percent decrease from the previous month, but is still 60 percent ahead of the total reported for February 2007. One in every 557 U.S. households received a foreclosure filing 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.

 

 

                 Mississippi Foreclosure Market by County – February 2008

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

50,813

53,319

20,132

52,879

46,508

223,651

557

n/a

n/a

Mississippi

1

92

0

0

55

148

8,348

0.07

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

2

0

0

0

2

7,675

0.07

1.09

Alcorn

0

0

0

0

0

0

n/a

0.00

0.00

Amite

0

0

0

0

0

0

n/a

0.00

0.00

Attala

0

0

0

0

0

0

n/a

0.00

0.00

Benton

0

0

0

0

0

0

n/a

0.00

0.00

Bolivar

0

0

0

0

0

0

n/a

0.00

0.00

Calhoun

0

0

0

0

0

0

n/a

0.00

0.00

Carroll

0

0

0

0

0

0

n/a

0.00

0.00

Chickasaw

0

0

0

0

0

0

n/a

0.00

0.00

Choctaw

0

0

0

0

0

0

n/a

0.00

0.00

Claiborne

0

0

0

0

0

0

n/a

0.00

0.00

Clarke

0

0

0

0

0

0

n/a

0.00

0.00

Clay

0

0

0

0

0

0

n/a

0.00

0.00

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

Covington

0

0

0

0

0

0

n/a

0.00

0.00

De Soto

0

7

0

0

51

58

913

0.61

9.14

Forrest

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

0

0

0

0

0

0

n/a

0.00

0.00

George

0

0

0

0

0

0

n/a

0.00

0.00

Greene

0

0

0

0

0

0

n/a

0.00

0.00

Grenada

0

0

0

0

0

0

n/a

0.00

0.00

Hancock

0

1

0

0

0

1

23,531

0.02

0.35

Harrison

0

4

0

0

1

5

17,628

0.03

0.47

Hinds

1

58

0

0

1

60

1,742

0.32

4.79

Holmes

0

0

0

0

0

0

n/a

0.00

0.00

Humphreys

0

0

0

0

0

0

n/a

0.00

0.00

Issaquena

0

0

0

0

0

0

n/a

0.00

0.00

Itawamba

0

0

0

0

0

0

n/a

0.00

0.00

Jackson

0

0

0

0

0

0

n/a

0.00

0.00

Jasper

0

0

0

0

0

0

n/a

0.00

0.00

Jefferson

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

1

0

0

0

1

27,624

0.02

0.30

Kemper

0

0

0

0

0

0

n/a

0.00

0.00

Lafayette

0

0

0

0

0

0

n/a

0.00

0.00

Lamar

0

1

0

0

0

1

15,970

0.03

0.52

Lauderdale

0

0

0

0

0

0

n/a

0.00

0.00

Lawrence

0

0

0

0

0

0

n/a

0.00

0.00

Leake

0

0

0

0

0

0

n/a

0.00

0.00

Lee

0

2

0

0

0

2

16,400

0.03

0.51

Leflore

0

0

0

0

0

0

n/a

0.00

0.00

Lincoln

0

0

0

0

1

1

14,456

0.04

0.58

Lowndes

0

0

0

0

0

0

n/a

0.00

0.00

Madison

0

7

0

0

0

7

4,873

0.11

1.71

Marion

0

0

0

0

0

0

n/a

0.00

0.00

Marshall

0

2

0

0

0

2

6,978

0.08

1.20

Monroe

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

0

0

0

0

0

0

n/a

0.00

0.00

Neshoba

0

0

0

0

0

0

n/a

0.00

0.00

Newton

0

0

0

0

0

0

n/a

0.00

0.00

Noxubee

0

0

0

0

0

0

n/a

0.00

0.00

Oktibbeha

0

0

0

0

0

0

n/a

0.00

0.00

Panola

0

0

0

0

0

0

n/a

0.00

0.00

Pearl River

0

1

0

0

0

1

22,521

0.02

0.37

Perry

0

0

0

0

0

0

n/a

0.00

0.00

Pike

0

0

0

0

0

0

n/a

0.00

0.00

Pontotoc

0

0

0

0

0

0

n/a

0.00

0.00

Prentiss

0

0

0

0

0

0

n/a

0.00

0.00

Quitman

0

0

0

0

0

0

n/a

0.00

0.00

Rankin

0

1

0

0

1

2

25,706

0.02

0.32

Scott

0

0

0

0

0

0

n/a

0.00

0.00

Sharkey

0

0

0

0

0

0

n/a

0.00

0.00

Simpson

0

0

0

0

0

0

n/a

0.00

0.00

Smith

0

0

0

0

0

0

n/a

0.00

0.00

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

Tallahatchie

0

0

0

0

0

0

n/a

0.00

0.00

Tate

0

0

0

0

0

0

n/a

0.00

0.00

Tippah

0

0

0

0

0

0

n/a

0.00

0.00

Tishomingo

0

1

0

0

0

1

9,815

0.06

0.85

Tunica

0

0

0

0

0

0

n/a

0.00

0.00

Union

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

1

0

0

0

1

21,190

0.03

0.39

Washington

0

1

0

0

0

1

24,958

0.02

0.33

Wayne

0

0

0

0

0

0

n/a

0.00

0.00

Webster

0

0

0

0

0

0

n/a

0.00

0.00

Wilkinson

0

0

0

0

0

0

n/a

0.00

0.00

Winston

0

0

0

0

0

0

n/a

0.00

0.00

Yalobusha

0

1

0

0

0

1

6,490

0.09

1.29

Yazoo

0

1

0

0

0

1

10,189

0.05

0.82

 

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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