Mississippi Foreclosure Activity Rises in July

Statewide foreclosure filings up 17 percent from June

 

Foreclosure activity in Mississippi increased 17 percent in July to 415 properties with foreclosure filings, but still 13 percent below the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Mississippi reported a hike in foreclosure activity in July, though the number of filings within the state were fewer than for the same month last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s high unemployment rate of 10.8 percent certainly isn’t helping keep foreclosures down as Mississippi continues to suffer the effects of national recession.”

 

The state reported the 48th highest state foreclosure rate, as one in every 3,054 Mississippi housing units received a foreclosure filing during the month.

 

De Soto County posts top county foreclosure rate in July

De Soto County posted the top foreclosure rate in Mississippi for the month, with one in every 837 housing units receiving a foreclosure filing in July. Hancock County posted the second highest foreclosure rate, with one in every 1,056 housing units receiving a foreclosure filing during the month. Coming in third was Harrison County, where one in every 1,587 housing units received a foreclosure filing in July.

 

De Soto County had top foreclosure total for July

De Soto County also posted the highest foreclosure total, reporting 72 properties with foreclosure filings. Second highest total was in Hinds County, reporting 56 properties with foreclosure filings. Harrison County came in third highest, tallying 51 properties with foreclosure filings. Fourth highest was Jackson County, where 25 properties with foreclosure filings were reported. Rankin County was fifth, reporting 20 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Mississippi accounted for less than 1 percent of the 325,229 properties with foreclosure filings reported nationwide in July. Total U.S. activity increased by more than 3 percent from the previous month but was down almost 10 percent from the level reported in July 2009. One in every 397 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: 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 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 – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

n/a

n/a

Mississippi

0

0

204

0

211

415

3,054

0.13

n/a

 

 

 

 

 

 

 

 

 

 

De Soto

0

0

47

0

25

72

837

0.47

3.65

Hancock

0

0

7

0

11

18

1,056

0.38

2.89

Harrison

0

0

18

0

33

51

1,587

0.25

1.92

Marshall

0

0

4

0

4

8

1,851

0.21

1.65

Hinds

0

0

25

0

31

56

1,903

0.21

1.60

 

 

Mississippi Top Foreclosure Totals by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

3.63

-9.70

Mississippi

0

0

204

0

211

415

3,054

16.90

-13.18

 

 

 

 

 

 

 

 

 

 

De Soto

0

0

47

0

25

72

837

-13.25

-55.00

Hinds

0

0

25

0

31

56

1,903

33.33

-31.71

Harrison

0

0

18

0

33

51

1,587

-19.05

-26.09

Jackson

0

0

15

0

10

25

2,286

-34.21

1,150.00

Rankin

0

0

10

0

10

20

2,796

-23.08

-65.52

 

 

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