Montana Foreclosure Activity Falls in April

Statewide foreclosure filings down 24 percent from March

 

Monthly foreclosure activity in Montana decreased in April, down 24 percent from the previous month to 279 properties with foreclosure filings ings. This latest state total also represents a 357 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Montana foreclosures were down significantly during April,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decline was in auctions, which fell 44 percent for the month. With its low unemployment rate and higher-than-average home sales in 2009, it is likely that this state will remain among the nation’s lowest in total foreclosures.”

 

Montana ranked 44th in the country in total foreclosures reported for the month. With one in every 1,571 housing units receiving a foreclosure filing, its foreclosure rate ranked 39th among the 50 states.

 

Ravalli County posts top foreclosure rate for April

Ravalli County posted the highest county foreclosure rate in Montana for April, with one in every 458 housing units receiving a foreclosure filing — 3.4 times the state average. Flathead County came in second, with one in every 515 housing units receiving a foreclosure filing — 3.1 times the state average. Gallatin County was third, with one in every 788 housing units receiving a foreclosure filing — twice the state average.

 

Flathead County led the state in total foreclosures for April

Flathead County led the way, reporting 74 properties with foreclosure filings for the month. Gallatin County came in second highest, documenting 49 properties with foreclosure filings. Reporting 36 properties with foreclosure filings for the month, Ravalli County ranked third highest. Missoula County was fourth, reporting 31 properties with foreclosure filings, while Yellowstone County came in fifth, reporting 22 properties with foreclosure filings.

 

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

Montana accounted for less than 1 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 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: DefaultNotice 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.

 

 

Montana Top Foreclosure Rates By County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Montana

0

0

121

0

158

279

1,571

0.25

n/a

 

 

 

 

 

 

 

 

 

 

Ravalli

0

0

8

0

28

36

458

0.84

3.43

Flathead

0

0

28

0

46

74

515

0.75

3.05

Gallatin

0

0

24

0

25

49

788

0.49

1.99

Broadwater

0

0

2

0

0

2

1,006

0.38

1.56

Deer Lodge

0

0

2

0

2

4

1,268

0.30

1.24

 

 

 

Montana Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Jan 10

% Chg Feb 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Montana

0

0

121

0

158

279

1,571

-24.39

357.38

 

 

 

 

 

 

 

 

 

 

Flathead

0

0

28

0

46

74

515

-31.48

236.35

Gallatin

0

0

24

0

25

49

788

-26.87

1,533.33

Ravalli

0

0

8

0

28

36

458

5.88

620.00

Missoula

0

0

13

0

18

31

1,494

-3.13

675.00

Yellowstone

0

0

14

0

8

22

2,692

-18.52

450.00

 

 

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