MONTANA FORECLOSURES INCREASE 23 PERCENT IN MAY

Activity Up 109 Percent From a Year Earlier

 

IRVINE, Calif. – June 15, 2007 – Montana reported 136 foreclosure filings in May, a 23 percent increase in activity from the previous month, and 109 percent above the level reported for the same month last year, 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.

 

“Even with its robust job growth, Montana’s foreclosure activity is still up, compared to both April 2007 and to May 2006,” said James J. Saccacio, chief executive officer of RealtyTrac. “Overall, however, the state’s foreclosure activity remains below the national average and is one of the 10 lowest state totals in the country.”

 

Montana ranked 43rd in the country in total foreclosures reported for May. The state’s foreclosure rate of one foreclosure filing for every 3,030 households ranked 39th among the 50 states.

 

Bulk of state total found in four counties

Foreclosure filings in four Montana counties accounted for 62 percent of all foreclosure activity in the state for May. Yellowstone County led the state, reporting 29 foreclosure filings for the month. Flathead and Missoula counties tied for second, each reporting 20 foreclosure filings. Cascade County came in fourth with 15 filings in the foreclosure pipeline.

 

Ravalli County leads lead state in foreclosure rate for the month

Ravalli County posted the highest foreclosure rate in the state for May — one foreclosure filing for every 1,595 households — 1.9 times the state average. Deer Lodge County tallied the state’s second highest rate — one foreclosure filing for every 1,653 households — 1.8 times the state average. Third highest was Gallatin County with one foreclosure filing for every 1,735 households — 1.8 times the state average.

 

State makes small contribution to national total for May

Total foreclosure filings in Montana accounted for less than 1 percent of the 176,137 foreclosure filings nationwide. The national total was up 19 percent from the previous month, and up 90 percent from May 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 656 U.S. households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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 – May 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

55,615

56,481

9,760

25,733

28,548

176,137

656

n/a

n/a

Montana

3

122

0

0

11

136

3,030

0.22

n/a

 

 

 

 

 

 

 

 

 

 

Big Horn

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

Cascade

0

13

0

0

2

15

2,348

0.28

1.29

Dawson

0

1

0

0

0

1

4,168

0.16

0.73

Deer Lodge

0

2

0

0

1

3

1,653

0.40

1.83

Fergus

0

2

0

0

1

3

1,853

0.35

1.64

Flathead

0

18

0

0

2

20

1,739

0.38

1.74

Gallatin

2

13

0

0

2

17

1,735

0.38

1.75

Lake

0

6

0

0

0

6

2,268

0.29

1.34

Lewis And clark

0

5

0

0

1

6

4,279

0.15

0.71

Lincoln

0

2

0

0

0

2

4,660

0.14

0.65

Madison

0

1

0

0

0

1

4,671

0.14

0.65

Mineral

0

0

0

0

0

0

n/a

0.00

0.00

Missoula

1

19

0

0

0

20

2,066

0.32

1.47

Park

0

1

0

0

0

1

8,247

0.08

0.37

Pondera

0

1

0

0

0

1

2,834

0.23

1.07

Ravalli

0

10

0

0

0

10

1,595

0.41

1.90

Sanders

0

0

0

0

0

0

n/a

0.00

0.00

Silver Bow

0

1

0

0

0

1

16,176

0.04

0.19

Stillwater

0

0

0

0

0

0

n/a

0.00

0.00

Yellowstone

0

27

0

0

2

29

1,881

0.35

1.61

 

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 construction properties, 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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