Mississippi Foreclosure Activity Falls in April

Statewide foreclosure filings down 29 percent from March

 

Monthly foreclosure activity in Mississippi decreased in April, down 29 percent from the previous month to 369 properties with foreclosure filings. This latest state total also represents a 10 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Mississippi foreclosures were down significantly in April,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decline was is auctions, which fell 33 percent for the month. Although still above the national average, the state’s unemployment rate did fall slightly during the month. This may have contributed to the decline.”

 

Mississippi ranked 42nd in the country in total foreclosures reported for the month. With one in every 3,434 housing units receiving a foreclosure filing, its foreclosure rate ranked 46th among the 50 states.

 

De Soto County posts top foreclosure rate for April

De Soto County posted the highest county foreclosure rate in Mississippi for April, with one in every 744 housing units receiving a foreclosure filing — 4.6 times the state average. Jackson County came in second, with one in every 1,121 housing units receiving a foreclosure filing — 3.1 times the state average. Harrison County was third, with one in every 1,651 housing units receiving a foreclosure filing — 2.1 times the state average.

 

De Soto County also led the state in total foreclosures for April  

De Soto County also led the way in total foreclosures, reporting 81 properties with foreclosure filings for the month. Jackson County came in second highest, documenting 51 properties with foreclosure filings. Reporting 49 properties with foreclosure filings for the month, Harrison County ranked third highest. Hinds County was fourth, reporting 49 properties with foreclosure filings, while Lee County came in fifth, reporting 10 properties with foreclosure filings.

 

State contributes less than 1 percent to nation’s month foreclosure total

Mississippi accounted for less than 1 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 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.

 

 

Mississippi Top Foreclosure Rates By County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Mississippi

0

0

197

0

172

369

3,434

0.11

n/a

 

 

 

 

 

 

 

 

 

 

De Soto

0

0

59

0

22

81

744

0.52

4.61

Jackson

0

0

39

0

12

51

1,121

0.34

3.06

Harrison

0

0

22

0

27

49

1,651

0.23

2.08

Stone

0

0

1

0

2

3

1,992

0.19

1.72

Hinds

0

0

26

0

23

49

2,175

0.18

1.58

 

 

 

Mississippi Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Jan 10

% Chg Feb 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Mississippi

0

0

197

0

172

369

3,434

-28.76

10.15

 

 

 

 

 

 

 

 

 

 

De Soto

0

0

59

0

22

81

744

-28.95

-4.71

Jackson

0

0

39

0

12

51

1,121

-1.92

n/a

Harrison

0

0

22

0

27

49

1,651

28.95

1,125.00

Hinds

0

0

26

0

23

49

2,175

-49.48

-47.31

Lee

0

0

3

0

7

10

3,375

25.00

150.00

 

 

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