MISSISSIPPI FORECLOSURE ACTIVITY UP 108 PERCENT IN JANUARY

Foreclosure Filings Statewide Increase 70 Percent From January 2008

 

IRVINE, Calif. – Feb. 27, 2009 – Foreclosure filings were reported on 275 Mississippi properties in January, up 108 percent from the previous month, and 70 percent above the level reported for January 2008, 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 1.5 million properties from over 2,200 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.

 

“Mississippi’s foreclosure activity more than doubled between December 2008 and January as the state realizes the effects of nation-wide recession and mounting job losses,” said James J. Saccacio, chief executive officer of RealtyTrac.

 

Mississippi ranked 40th in the country in total properties with foreclosure filings for January. One in every 4,563 Mississippi housing units received a foreclosure filing during the month, ranking 43rd among the 50 states.

 

De Soto County accounts for more than half of state’s foreclosure activity

De Soto County led the state reporting 171 properties with foreclosure filings for the month. Rankin County was second highest reporting 33 properties with foreclosure filings. Hinds County ranked third highest reporting 15 properties with foreclosure filings.

 

De Soto County posts state’s highest foreclosure rate for January

De Soto County reported the highest foreclosure rate in Mississippi for January, with one in every 343 housing units receiving a foreclosure filing — 13.3 times the state average. Tate County posted the state’s second highest foreclosure rate, with one in every 1,197 housing units received a foreclosure filing — 3.8 times the state average. Rankin County documented the third highest foreclosure rate, where one in every 1,658 housing units received a foreclosure filing during the month — 2.8 times the state average.

 

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

Mississippi accounted for less than 1 percent of the 274,399 properties with foreclosure filings reported nationwide in January. The national total represented a decrease of more than 9 percent from the previous month but was still nearly 18 percent ahead of the total reported for January 2008. One in every 466 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 – January 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,681

52,435

80,986

27,520

66,777

274,399

466

n/a

n/a

Mississippi

0

0

243

0

32

275

4,563

0.10

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

1

0

1

2

7,714

0.06

0.59

Alcorn

0

0

0

0

1

1

16,434

0.03

0.28

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

1

0

0

1

9,103

0.05

0.50

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

0

170

0

1

171

343

1.36

13.30

Forrest

0

0

0

0

2

2

16,470

0.03

0.28

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

1

0

0

1

10,404

0.04

0.44

Hancock

0

0

0

0

0

0

 n/a

0.00

0.00

Harrison

0

0

3

0

3

6

13,361

0.03

0.34

Hinds

0

0

6

0

9

15

7,059

0.07

0.65

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

1

0

3

4

13,946

0.03

0.33

Jasper

0

0

0

0

1

1

8,097

0.06

0.56

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

0

0

0

0

0

 n/a

0.00

0.00

Kemper

0

0

0

0

0

0

 n/a

0.00

0.00

Lafayette

0

0

1

0

0

1

18,823

0.02

0.24

Lamar

0

0

0

0

0

0

 n/a

0.00

0.00

Lauderdale

0

0

4

0

0

4

8,807

0.05

0.52

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

0

2

0

2

4

8,367

0.06

0.55

Leflore

0

0

2

0

0

2

7,558

0.06

0.60

Lincoln

0

0

2

0

0

2

7,319

0.06

0.62

Lowndes

0

0

0

0

0

0

 n/a

0.00

0.00

Madison

0

0

3

0

1

4

9,090

0.05

0.50

Marion

0

0

0

0

0

0

 n/a

0.00

0.00

Marshall

0

0

3

0

0

3

4,855

0.10

0.94

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

1

1

9,678

0.05

0.47

Noxubee

0

0

0

0

0

0

 n/a

0.00

0.00

Oktibbeha

0

0

0

0

1

1

19,743

0.02

0.23

Panola

0

0

1

0

0

1

14,571

0.03

0.31

Pearl River

0

0

0

0

0

0

 n/a

0.00

0.00

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

1

1

11,466

0.04

0.40

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

0

32

0

1

33

1,658

0.28

2.75

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

1

1

10,757

0.04

0.42

Tallahatchie

0

0

0

0

0

0

 n/a

0.00

0.00

Tate

0

0

8

0

1

9

1,197

0.39

3.81

Tippah

0

0

0

0

0

0

 n/a

0.00

0.00

Tishomingo

0

0

0

0

0

0

 n/a

0.00

0.00

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

0

0

0

0

0

 n/a

0.00

0.00

Washington

0

0

1

0

0

1

25,079

0.02

0.18

Wayne

0

0

1

0

0

1

9,444

0.05

0.48

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

0

0

0

0

0

 n/a

0.00

0.00

Yazoo

0

0

0

0

2

2

5,163

0.09

0.88

 

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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