MONTANA FORECLOSURE ACTIVITY DOWN 69 PERCENT IN SEPTEMBER

Filings Statewide Decrease 53 Percent From September 2007

 

IRVINE, Calif. – Oct. 27, 2008 – Foreclosure filings were reported on 42 Montana properties in September, a decrease of 69 percent from the previous month and 53 percent below the level reported for September 2007, 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.

 

“Montana’s unemployment rate rose to 4.6 percent in September, though the state’s agriculture and energy sectors helped balance out the job losses reported in the timber industry,” said James J. Saccacio, chief executive officer of RealtyTrac. “Foreclosure activity in the state has significantly decreased compared to one month earlier and to the same time last year.”

 

Montana ranked 47th in the country in total properties with foreclosure filings for September. One in every 10,286 Montana households received a foreclosure filing during the month, ranking 47th among the 50 states.

 

Flathead County tops in foreclosure activity for September

Flathead County led the state reporting 11 properties with foreclosure filings for the month. Yellowstone County came in second highest, reporting six properties with foreclosure filings. Cascade and Lewis and Clark counties ranked third highest, each reporting five properties with foreclosure filings.

 

Mineral County reports highest foreclosure rate in September

Mineral County posted the top foreclosure rate in the state, with one in every 994 households receiving a foreclosure filing during the month — 10.4 times the state average. Deer Lodge County registered the second highest rate, where one in every 2,523 households received a foreclosure filing — 4.1 times the state average. Flathead County posted the third highest rate, where one in every 3,392 households received a foreclosure filing — three times the state average.

 

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

Montana accounted for less than 1 percent of the 265,968 properties with foreclosure filings reported nationwide in September. The national total represents a decrease of more than 12 percent from the previous month but is still 21 percent ahead of the total reported for September 2007. The nation’s foreclosure rate decreased to one in every 475 U.S. households receiving 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.

 

       Montana Foreclosure Market Data by County – September 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

39,828

58,606

61,442

24,780

81,312

265,968

475

n/a

n/a

Montana

0

0

9

0

33

42

10,286

0.05

n/a

 

 

 

 

 

 

 

 

 

 

Beaverhead

0

0

0

0

1

1

4,604

0.10

2.23

Big Horn

0

0

0

0

0

0

 n/a

0.00

0.00

Blaine

0

0

0

0

0

0

 n/a

0.00

0.00

Broadwater

0

0

0

0

0

0

 n/a

0.00

0.00

Carbon

0

0

0

0

0

0

 n/a

0.00

0.00

Carter

0

0

0

0

0

0

 n/a

0.00

0.00

Cascade

0

0

2

0

3

5

7,186

0.07

1.43

Chouteau

0

0

0

0

0

0

 n/a

0.00

0.00

Custer

0

0

0

0

0

0

 n/a

0.00

0.00

Daniels

0

0

0

0

0

0

 n/a

0.00

0.00

Dawson

0

0

0

0

0

0

 n/a

0.00

0.00

Deer Lodge

0

0

0

0

2

2

2,523

0.19

4.08

Fallon

0

0

0

0

0

0

 n/a

0.00

0.00

Fergus

0

0

0

0

1

1

5,547

0.09

1.85

Flathead

0

0

1

0

10

11

3,392

0.14

3.03

Gallatin

0

0

0

0

0

0

 n/a

0.00

0.00

Garfield

0

0

0

0

0

0

 n/a

0.00

0.00

Glacier

0

0

0

0

0

0

 n/a

0.00

0.00

Golden Valley

0

0

0

0

0

0

 n/a

0.00

0.00

Granite

0

0

0

0

0

0

 n/a

0.00

0.00

Hill

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

0

0

0

0

0

0

 n/a

0.00

0.00

Judith Basin

0

0

0

0

0

0

 n/a

0.00

0.00

Lake

0

0

1

0

1

2

7,009

0.07

1.47

Lewis And Clark

0

0

1

0

4

5

5,270

0.09

1.95

Liberty

0

0

0

0

0

0

 n/a

0.00

0.00

Lincoln

0

0

0

0

0

0

 n/a

0.00

0.00

Madison

0

0

0

0

0

0

 n/a

0.00

0.00

Mccone

0

0

0

0

0

0

 n/a

0.00

0.00

Meagher

0

0

0

0

0

0

 n/a

0.00

0.00

Mineral

0

0

1

0

1

2

994

0.48

10.35

Missoula

0

0

0

0

3

3

15,122

0.03

0.68

Musselshell

0

0

0

0

0

0

 n/a

0.00

0.00

Park

0

0

0

0

0

0

 n/a

0.00

0.00

Petroleum

0

0

0

0

0

0

 n/a

0.00

0.00

Phillips

0

0

0

0

0

0

 n/a

0.00

0.00

Pondera

0

0

0

0

0

0

 n/a

0.00

0.00

Powder River

0

0

0

0

0

0

 n/a

0.00

0.00

Powell

0

0

0

0

0

0

 n/a

0.00

0.00

Prairie

0

0

0

0

0

0

 n/a

0.00

0.00

Ravalli

0

0

1

0

2

3

5,478

0.09

1.88

Richland

0

0

0

0

0

0

 n/a

0.00

0.00

Roosevelt

0

0

0

0

0

0

 n/a

0.00

0.00

Rosebud

0

0

0

0

0

0

 n/a

0.00

0.00

Sanders

0

0

0

0

0

0

 n/a

0.00

0.00

Sheridan

0

0

0

0

0

0

 n/a

0.00

0.00

Silver Bow

0

0

0

0

1

1

16,248

0.03

0.63

Stillwater

0

0

0

0

0

0

 n/a

0.00

0.00

Sweet Grass

0

0

0

0

0

0

 n/a

0.00

0.00

Teton

0

0

0

0

0

0

 n/a

0.00

0.00

Toole

0

0

0

0

0

0

 n/a

0.00

0.00

Treasure

0

0

0

0

0

0

 n/a

0.00

0.00

Valley

0

0

0

0

0

0

 n/a

0.00

0.00

Wheatland

0

0

0

0

0

0

 n/a

0.00

0.00

Wibaux

0

0

0

0

0

0

 n/a

0.00

0.00

Yellowstone

0

0

2

0

4

6

9,701

0.05

1.06

 

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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