Mississippi Foreclosure Activity Trends Upward in May

Total foreclosure filings statewide up 30 percent from April

 

Mississippi foreclosure activity rose in May to 434 properties with foreclosure filings, a 30 percent increase from the previous month and 135 percent above the level reported of May 2008, according to RealtyTrac’s latest U.S. Foreclosure Market Report.

 

“Foreclosure activity rose significantly in Mississippi in May as the state’s unemployment rate hit 9.6 percent,” said James J. Saccacio, chief executive officer of RealtyTrac.

 

Mississippi ranked 39th in the country in total properties with foreclosure filings for May. One in every 2,891 Mississippi housing units received a foreclosure filing during the month, ranking 43rd among the 50 states.

 

Hinds County tops in foreclosure activity for May

Hinds County led the state reporting 126 properties with foreclosure filings for the month. De Soto County posted the second highest total, where 114 properties with foreclosure filings were reported. Madison County had the third highest total, reporting 27 properties with foreclosure filings, followed by Rankin County, where 25 properties with foreclosure filings were tallied.

 

De Soto County posts state’s highest foreclosure rates for May

De Soto County posted the highest county foreclosure rate in the state, with one in every 515 housing units receiving a foreclosure filing during the month. Hinds County had the second highest rate, with one in every 840 housing units receiving a foreclosure filing. Marshall County posted the third highest rate, where one in every 857 housing units received a foreclosure filing during the month.

 

State a minor contributor to nation’s foreclosure activity for May

Foreclosure activity in Mississippi represented less than 1 percent of the 321,480 properties with foreclosure filings reported nationwide in May. Total U.S. activity fell 6 percent from the previous month but was still nearly 18 percent ahead of May 2008. One in every 398 U.S. housing units received a foreclosure filing during the month.

 

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 month — 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 month — which is extremely rare — 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 Foreclosure Market Data by County – May 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Apr 09

% Chg May 08

 

 

 

 

 

 

 

 

 

 

United States

55,442

67,687

100,578

32,756

65,017

321,480

398

– 6.01

17.76

Mississippi

0

0

409

0

25

434

2,891

29.55

134.59

 

 

 

 

 

 

 

 

 

 

Adams

0

0

2

0

0

2

7,714

 n/a

0.00

Alcorn

0

0

0

0

0

0

 n/a

 n/a

 n/a

Amite

0

0

0

0

0

0

 n/a

 n/a

 n/a

Attala

0

0

0

0

0

0

 n/a

 n/a

 n/a

Benton

0

0

0

0

0

0

 n/a

 n/a

 n/a

Bolivar

0

0

0

0

0

0

 n/a

 n/a

-100.00

Calhoun

0

0

0

0

0

0

 n/a

 n/a

 n/a

Carroll

0

0

0

0

0

0

 n/a

 n/a

 n/a

Chickasaw

0

0

0

0

0

0

 n/a

 n/a

 n/a

Choctaw

0

0

0

0

1

1

4,422

 n/a

 n/a

Claiborne

0

0

0

0

0

0

 n/a

 n/a

 n/a

Clarke

0

0

0

0

0

0

 n/a

 n/a

 n/a

Clay

0

0

0

0

0

0

 n/a

 n/a

 n/a

Coahoma

0

0

2

0

0

2

5,852

100.00

100.00

Copiah

0

0

1

0

0

1

11,459

 n/a

 n/a

Covington

0

0

0

0

0

0

 n/a

 n/a

-100.00

De Soto

0

0

112

0

2

114

515

34.12

80.95

Forrest

0

0

2

0

0

2

16,470

 n/a

0.00

Franklin

0

0

0

0

0

0

 n/a

 n/a

 n/a

George

0

0

3

0

0

3

2,683

 n/a

200.00

Greene

0

0

1

0

0

1

5,202

 n/a

 n/a

Grenada

0

0

4

0

0

4

2,601

 n/a

300.00

Hancock

0

0

15

0

0

15

1,412

 n/a

 n/a

Harrison

0

0

6

0

1

7

11,452

75.00

250.00

Hinds

0

0

123

0

3

126

840

35.48

70.27

Holmes

0

0

0

0

0

0

 n/a

-100.00

 n/a

Humphreys

0

0

0

0

0

0

 n/a

 n/a

 n/a

Issaquena

0

0

0

0

0

0

 n/a

 n/a

 n/a

Itawamba

0

0

0

0

0

0

 n/a

 n/a

-100.00

Jackson

0

0

1

0

1

2

27,892

 n/a

-33.33

Jasper

0

0

0

0

0

0

 n/a

 n/a

 n/a

Jefferson

0

0

0

0

0

0

 n/a

 n/a

 n/a

Jefferson Davis

0

0

0

0

0

0

 n/a

 n/a

 n/a

Jones

0

0

0

0

0

0

 n/a

 n/a

 n/a

Kemper

0

0

0

0

0

0

 n/a

 n/a

 n/a

Lafayette

0

0

2

0

3

5

3,765

-72.22

 n/a

Lamar

0

0

0

0

0

0

 n/a

 n/a

 n/a

Lauderdale

0

0

4

0

1

5

7,045

0.00

 n/a

Lawrence

0

0

1

0

0

1

5,919

 n/a

 n/a

Leake

0

0

0

0

0

0

 n/a

-100.00

 n/a

Lee

0

0

3

0

0

3

11,156

-25.00

200.00

Leflore

0

0

2

0

1

3

5,038

200.00

200.00

Lincoln

0

0

1

0

0

1

14,637

 n/a

-75.00

Lowndes

0

0

11

0

0

11

2,413

1000.00

 n/a

Madison

0

0

25

0

2

27

1,347

-43.75

125.00

Marion

0

0

0

0

0

0

 n/a

 n/a

 n/a

Marshall

0

0

17

0

0

17

857

750.00

 n/a

Monroe

0

0

1

0

0

1

16,798

 n/a

 n/a

Montgomery

0

0

0

0

0

0

 n/a

 n/a

 n/a

Neshoba

0

0

1

0

0

1

12,675

 n/a

 n/a

Newton

0

0

0

0

0

0

 n/a

 n/a

 n/a

Noxubee

0

0

0

0

0

0

 n/a

 n/a

 n/a

Oktibbeha

0

0

0

0

0

0

 n/a

 n/a

-100.00

Panola

0

0

8

0

3

11

1,325

37.50

1000.00

Pearl River

0

0

11

0

0

11

2,270

 n/a

 n/a

Perry

0

0

3

0

0

3

1,768

 n/a

 n/a

Pike

0

0

0

0

0

0

 n/a

 n/a

-100.00

Pontotoc

0

0

0

0

0

0

 n/a

 n/a

 n/a

Prentiss

0

0

0

0

0

0

 n/a

 n/a

 n/a

Quitman

0

0

0

0

0

0

 n/a

 n/a

 n/a

Rankin

0

0

23

0

2

25

2,188

-43.18

733.33

Scott

0

0

6

0

0

6

1,939

500.00

 n/a

Sharkey

0

0

0

0

0

0

 n/a

 n/a

 n/a

Simpson

0

0

2

0

0

2

5,841

 n/a

100.00

Smith

0

0

0

0

0

0

 n/a

 n/a

 n/a

Stone

0

0

1

0

0

1

5,930

 n/a

 n/a

Sunflower

0

0

0

0

0

0

 n/a

 n/a

 n/a

Tallahatchie

0

0

1

0

0

1

5,989

 n/a

 n/a

Tate

0

0

7

0

2

9

1,197

-25.00

 n/a

Tippah

0

0

0

0

0

0

 n/a

 n/a

 n/a

Tishomingo

0

0

0

0

0

0

 n/a

 n/a

-100.00

Tunica

0

0

0

0

0

0

 n/a

 n/a

 n/a

Union

0

0

0

0

0

0

 n/a

 n/a

 n/a

Walthall

0

0

0

0

0

0

 n/a

 n/a

 n/a

Warren

0

0

1

0

1

2

10,694

0.00

0.00

Washington

0

0

4

0

1

5

5,016

150.00

25.00

Wayne

0

0

1

0

0

1

9,444

 n/a

 n/a

Webster

0

0

1

0

0

1

4,535

 n/a

 n/a

Wilkinson

0

0

0

0

0

0

 n/a

 n/a

 n/a

Winston

0

0

0

0

0

0

 n/a

-100.00

 n/a

Yalobusha

0

0

0

0

1

1

6,625

 n/a

 n/a

Yazoo

0

0

0

0

0

0

 n/a

 n/a

 n/a

 

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