MONTANA FORECLOSURES DECREASE 5 PERCENT IN APRIL

Activity Up 48 Percent From a Year Ago

 

IRVINE, Calif. – May 18, 2007 – Montana reported 111 foreclosure filings in April, a 5 percent decrease from the previous month, but still 48 percent above the level reported for April 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 properties from nearly 2,500 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.

 

“Although Montana foreclosures decreased slightly in April, the numbers are up from this time last year by almost 50 percent,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics from 2006 show that average industry wages throughout the state were lower than all other states. This is likely contributing to the overall increase.”

 

Montana ranked among the 10 lowest states in the country in total foreclosures for April. The state’s foreclosure rate of one foreclosure filing for every 3,712 households ranks it 40th among the 50 states.

 

Flathead County leads state in foreclosure filings

Flathead County reported the highest county total for April with 21 foreclosure filings. Yellowstone County came in second with 18 foreclosure filings, followed by Missoula County with 16 foreclosure filings. The top three counties accounted for 50 percent of the state total for the month.

 

Ravalli County posts highest foreclosure rate

Reporting one foreclosure filing for every 1,329 households — 2.8 times the state average — Ravalli County posted the highest foreclosure rate in Montana for April. Deer Lodge County reported the second highest rate with one foreclosure filing for every 1,653 households — 2.3 times the state average, followed by Flathead County with one filing for every 1,656 households — 2.2 times the state average.

 

State contribution minor to overall national total

Total foreclosure filings in Montana accounted for less than 1 percent of the 147,708 foreclosure filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 783 U.S. households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                     Montana Foreclosure Market by County – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,171

49,794

7,388

21,085

22,270

147,708

783

n/a

n/a

Montana

0

104

0

0

7

111

3,712

0.21

n/a

 

 

 

 

 

 

 

 

 

 

Cascade

0

11

0

0

2

13

2,710

0.29

1.37

Dawson

0

2

0

0

0

2

2,084

0.38

1.78

Deer Lodge

0

3

0

0

0

3

1,653

0.47

2.25

Fergus

0

1

0

0

0

1

5,558

0.14

0.67

Flathead

0

20

0

0

1

21

1,656

0.47

2.24

Gallatin

0

12

0

0

0

12

2,457

0.32

1.51

Hill

0

1

0

0

0

1

7,453

0.11

0.50

Jefferson

0

0

0

0

1

1

4,199

0.19

0.88

Lake

0

1

0

0

2

3

4,535

0.17

0.82

Lewis and Clark

0

4

0

0

0

4

6,418

0.12

0.58

Lincoln

0

0

0

0

0

0

n/a

0.00

0.00

Mineral

0

1

0

0

0

1

1,961

0.40

1.89

Missoula

0

16

0

0

0

16

2,582

0.30

1.44

Pondera

0

1

0

0

0

1

2,834

0.28

1.31

Powell

0

1

0

0

0

1

2,930

0.27

1.27

Ravalli

0

12

0

0

0

12

1,329

0.59

2.79

Sanders

0

0

0

0

0

0

n/a

0.00

0.00

Stillwater

0

0

0

0

0

0

n/a

0.00

0.00

Toole

0

1

0

0

0

1

2,300

0.34

1.61

Yellowstone

0

17

0

0

1

18

3,031

0.26

1.22

 

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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