MISSISSIPPI FORECLOSURE ACTIVITY INCREASES 57 PERCENT IN FIRST QUARTER

State Foreclosure Activity Up 68 Percent From Q1 2008

Monthly Activity Down 25 percent in March, Up 18 Percent From Year Ago

 

IRVINE, Calif. – April 27, 2009 – Foreclosure filings were reported on 768 Mississippi properties in the first quarter of 2009, a 57 percent increase from the previous quarter, and 68 percent above the level reported for Q1 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Mississippi reported 221 properties with foreclosure filings in March, a 25 percent decrease from the previous month, but still 18 percent above its March 2008 total.

 

“Mississippi’s foreclosure activity rose significantly in the first quarter of 2009 and remained high compared to the same time last year as the state realized the effects of nation-wide recession and mounting job losses,” said James J. Saccacio, chief executive officer of RealtyTrac.

 

Mississippi ranked 42nd in the country in total properties with foreclosure filings for the quarter. One in every 1,634 Mississippi housing units received a foreclosure filing during the month, the 44th highest state foreclosure rate in the nation.

 

De Soto County the single largest contributor to state total for the quarter

De Soto County led the state reporting 390 properties with foreclosure filings. Harrison County was second, reporting 115 properties with foreclosure filings for the quarter. Rankin County was in third, reporting 99 properties with foreclosure filings. Hinds County registered the fourth highest total, documenting 47 properties with foreclosure filings.

 

De Soto County posts state’s top foreclosure rate in the state for first quarter

De Soto County led the state, with one in every 150 housing units receiving a foreclosure filing — 10.9 times the state average. Rankin County came in second, with one in every 553 housing units receiving a foreclosure filing — 3.0 times the state average. Tate County registered the third highest foreclosure rate, where one in every 599 housing units received a foreclosure filing during the month — 2.7 times the state average.

 

State a minor contributor to nation’s foreclosure total for Q1 2009

Mississippi accounted for less than 1 percent of the 803,489 properties with foreclosure filings reported nationwide for the first quarter of 2009. The national total represented a 9 percent increase in activity from the previous quarter and was almost 24 percent ahead of the total reported for Q1 2008. One in every 159 U.S. housing units received a foreclosure filing during the quarter.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the quarter — broken out by type of filing at the county, state and national level. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice 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 filed against a property during the quarter — which is extremely rare — only the most recent filing is counted in the report.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

                            Mississippi Foreclosure Market Data by County – Q1 2009

Properties with Foreclosure Filings

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

%? from Q4 08

%? from Q1 08

 

 

 

 

 

 

 

 

 

 

United States

156,933

149,852

225,752

80,409

190,543

803,489

159

9.16

23.63

Mississippi

0

0

630

0

138

768

1,634

57.38

67.69

 

 

 

 

 

 

 

 

 

 

Adams

0

0

1

0

0

1

15,427

0.00%

-50.00%

Alcorn

0

0

1

0

0

1

16,434

-50.00%

Amite

0

0

0

0

0

0

Attala

0

0

1

0

0

1

9,110

Benton

0

0

0

0

0

0

-100.00%

Bolivar

0

0

0

0

0

0

-100.00%

Calhoun

0

0

0

0

0

0

-100.00%

Carroll

0

0

2

0

0

2

2,573

100.00%

Chickasaw

0

0

2

0

1

3

2,774

50.00%

Choctaw

0

0

0

0

0

0

-100.00%

Claiborne

0

0

0

0

0

0

-100.00%

Clarke

0

0

0

0

0

0

Clay

0

0

0

0

0

0

-100.00%

-100.00%

Coahoma

0

0

0

0

0

0

-100.00%

-100.00%

Copiah

0

0

0

0

0

0

-100.00%

-100.00%

Covington

0

0

1

0

0

1

8,486

-75.00%

De Soto

0

0

388

0

2

390

150

400.00%

124.14%

Forrest

0

0

6

0

2

8

4,118

-33.33%

700.00%

Franklin

0

0

1

0

0

1

4,324

George

0

0

0

0

0

0

-100.00%

Greene

0

0

0

0

0

0

-100.00%

Grenada

0

0

1

0

0

1

10,404

0.00%

Hancock

0

0

2

0

0

2

10,591

-66.67%

100.00%

Harrison

0

0

8

0

107

115

697

505.26%

1177.78%

Hinds

0

0

40

0

7

47

2,253

-31.88%

-74.46%

Holmes

0

0

0

0

0

0

-100.00%

Humphreys

0

0

0

0

0

0

Issaquena

0

0

0

0

0

0

Itawamba

0

0

1

0

0

1

10,310

0.00%

Jackson

0

0

3

0

4

7

7,969

-50.00%

600.00%

Jasper

0

0

0

0

1

1

8,097

Jefferson

0

0

0

0

0

0

Jefferson Davis

0

0

0

0

1

1

6,147

0.00%

Jones

0

0

2

0

0

2

13,982

-50.00%

-50.00%

Kemper

0

0

0

0

0

0

Lafayette

0

0

10

0

0

10

1,882

11.11%

900.00%

Lamar

0

0

1

0

1

2

8,369

-60.00%

100.00%

Lauderdale

0

0

5

0

2

7

5,032

-36.36%

133.33%

Lawrence

0

0

0

0

0

0

Leake

0

0

0

0

0

0

-100.00%

Lee

0

0

5

0

1

6

5,578

-62.50%

20.00%

Leflore

0

0

2

0

0

2

7,558

-66.67%

Lincoln

0

0

3

0

0

3

4,879

0.00%

-66.67%

Lowndes

0

0

0

0

0

0

-100.00%

-100.00%

Madison

0

0

4

0

1

5

7,272

-37.50%

-80.77%

Marion

0

0

0

0

0

0

-100.00%

Marshall

0

0

5

0

0

5

2,913

-78.26%

150.00%

Monroe

0

0

0

0

0

0

-100.00%

-100.00%

Montgomery

0

0

0

0

0

0

Neshoba

0

0

0

0

0

0

-100.00%

Newton

0

0

2

0

1

3

3,226

50.00%

Noxubee

0

0

0

0

0

0

-100.00%

Oktibbeha

0

0

0

0

1

1

19,743

-66.67%

Panola

0

0

6

0

0

6

2,429

-60.00%

Pearl River

0

0

0

0

0

0

-100.00%

-100.00%

Perry

0

0

0

0

0

0

Pike

0

0

0

0

0

0

-100.00%

-100.00%

Pontotoc

0

0

2

0

0

2

5,733

0.00%

100.00%

Prentiss

0

0

0

0

0

0

-100.00%

Quitman

0

0

1

0

0

1

3,974

0.00%

Rankin

0

0

97

0

2

99

553

47.76%

1314.29%

Scott

0

0

0

0

0

0

Sharkey

0

0

0

0

0

0

Simpson

0

0

1

0

0

1

11,681

-50.00%

-50.00%

Smith

0

0

0

0

0

0

Stone

0

0

0

0

0

0

-100.00%

Sunflower

0

0

1

0

0

1

10,757

-66.67%

-50.00%

Tallahatchie

0

0

0

0

0

0

Tate

0

0

17

0

1

18

599

-14.29%

1700.00%

Tippah

0

0

0

0

0

0

-100.00%

Tishomingo

0

0

0

0

0

0

Tunica

0

0

0

0

0

0

-100.00%

Union

0

0

0

0

0

0

-100.00%

Walthall

0

0

0

0

0

0

Warren

0

0

1

0

0

1

21,388

-80.00%

-80.00%

Washington

0

0

2

0

1

3

8,360

-76.92%

200.00%

Wayne

0

0

1

0

0

1

9,444

-90.91%

Webster

0

0

1

0

0

1

4,535

Wilkinson

0

0

0

0

0

0

Winston

0

0

0

0

1

1

8,771

0.00%

0.00%

Yalobusha

0

0

0

0

0

0

-100.00%

-100.00%

Yazoo

0

0

3

0

1

4

2,582

33.33%

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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