MISSISSIPPI FORECLOSURE ACTIVITY UP 52 PERCENT IN APRIL

Foreclosure Activity Level Up 98 Percent From April 2008

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 335 Mississippi properties in April, a 52 percent incline from the previous month, and 98 percent above the level reported for April 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 foreclosures are up both in April and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “This is due in part to Mississippi’s 8.6 percent unemployment rate. Even so, Mississippi still holds fewer foreclosures than most of the country right now.”

 

Mississippi ranked 40th in the country in total foreclosures reported for the month. With one in every 3,746 housing units receiving a foreclosure filing, its foreclosure rate ranked 44th among the 50 states.

 

Five counties account for bulk of state foreclosure activity in April

Hinds County led the way, reporting 93 properties with foreclosure filings for the month. De Soto County reported 85 properties with foreclosure filings, the state’s second highest county total.  Madison County came in third highest, reporting 48 properties with foreclosure filings. Rankin County came in fourth, documenting 44 properties with foreclosure filings, while the fifth highest total was documented in Lafayette County, where 18 properties with foreclosure filings were reported for the month.

 

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

De Soto County topped the list, with one in every 690 housing units receiving a foreclosure filing — 5.4 times the state average. Madison County had the second highest foreclosure rate, with one in every 757 housing units receiving a foreclosure filing — five times the state average. Tate County documented the third highest foreclosure rate, where one in every 898 housing units received a foreclosure filing during the month — 4.2 times the state average.

 

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

Mississippi accounted for less than 1 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 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 – April 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

Mississippi

0

0

323

0

12

335

3,746

51.58

98.22

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

 n/a

 n/a

n/a 

Alcorn

0

0

0

0

0

0

 n/a

 n/a

-100.00

Amite

0

0

0

0

0

0

 n/a

 n/a

 n/a

Attala

0

0

0

0

0

0

 n/a

-100.00

 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

-100.00

 n/a

Chickasaw

0

0

0

0

0

0

 n/a

-100.00

 n/a

Choctaw

0

0

0

0

0

0

 n/a

 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

1

0

0

1

11,703

 n/a

n/a 

Copiah

0

0

0

0

0

0

 n/a

 n/a

-100.00

Covington

0

0

0

0

0

0

 n/a

 n/a

-100.00

De Soto

0

0

85

0

0

85

690

-41.78

32.81

Forrest

0

0

0

0

0

0

 n/a

-100.00

 n/a

Franklin

0

0

0

0

0

0

n/a

-100.00

 n/a

George

0

0

0

0

0

0

 n/a

 n/a

 n/a

Greene

0

0

0

0

0

0

 n/a

 n/a

 n/a

Grenada

0

0

0

0

0

0

 n/a

 n/a

 n/a

Hancock

0

0

0

0

0

0

 n/a

-100.00

 n/a

Harrison

0

0

2

0

2

4

20,042

0.00

100.00

Hinds

0

0

91

0

2

93

1,139

615.38

66.07

Holmes

0

0

1

0

1

2

4,421

 n/a

 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

 n/a

Jackson

0

0

0

0

0

0

 n/a

-100.00

-100.00

Jasper

0

0

0

0

0

0

 n/a

 n/a

-100.00

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

-100.00

-100.00

Kemper

0

0

0

0

0

0

 n/a

 n/a

 n/a

Lafayette

0

0

18

0

0

18

1,046

800.00

 n/a

Lamar

0

0

0

0

0

0

 n/a

-100.00

 n/a

Lauderdale

0

0

5

0

0

5

7,045

400.00

150.00

Lawrence

0

0

0

0

0

0

 n/a

 n/a

 n/a

Leake

0

0

0

0

1

1

8,997

 n/a

 n/a

Lee

0

0

4

0

0

4

8,367

100.00

100.00

Leflore

0

0

0

0

1

1

15,115

 n/a

 n/a

Lincoln

0

0

0

0

0

0

 n/a

-100.00

-100.00

Lowndes

0

0

1

0

0

1

26,542

 n/a

0.00

Madison

0

0

47

0

1

48

757

4700.00

300.00

Marion

0

0

0

0

0

0

 n/a

 n/a

 n/a

Marshall

0

0

1

0

1

2

7,282

 n/a

-33.33

Monroe

0

0

0

0

0

0

 n/a

 n/a

-100.00

Montgomery

0

0

0

0

0

0

 n/a

 n/a

 n/a

Neshoba

0

0

0

0

0

0

n/a

 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

0

8

1,821

700.00

 n/a

Pearl River

0

0

0

0

0

0

 n/a

 n/a

 n/a

Perry

0

0

0

0

0

0

 n/a

 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

-100.00

-100.00

Prentiss

0

0

0

0

0

0

 n/a

 n/a

-100.00

Quitman

0

0

0

0

0

0

 n/a

-100.00

 n/a

Rankin

0

0

44

0

0

44

1243

83.33

1366.67

Scott

0

0

1

0

0

1

11,633

 n/a

 n/a

Sharkey

0

0

0

0

0

0

 n/a

 n/a

 n/a

Simpson

0

0

0

0

0

0

 n/a

-100.00

 n/a

Smith

0

0

0

0

0

0

 n/a

 n/a

 n/a

Stone

0

0

0

0

0

0

 n/a

 n/a

 n/a

Sunflower

0

0

0

0

0

0

 n/a

 n/a

-100.00

Tallahatchie

0

0

0

0

0

0

 n/a

 n/a

 n/a

Tate

0

0

12

0

0

12

898

200.00

 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

 n/a

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

-100.00

Warren

0

0

0

0

2

2

10,694

100.00

100.00

Washington

0

0

2

0

0

2

12,540

100.00

-50.00

Wayne

0

0

0

0

0

0

 n/a

 n/a

 n/a

Webster

0

0

0

0

0

0

 n/a

-100.00

 n/a

Wilkinson

0

0

0

0

0

0

 n/a

 n/a

 n/a

Winston

0

0

0

0

1

1

8,771

0.00

 n/a

Yalobusha

0

0

0

0

0

0

 n/a

 n/a

 n/a

Yazoo

0

0

0

0

0

0

 n/a

-100.00

 n/a

 

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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