North Carolina Foreclosure Activity Rises in April

Statewide foreclosure filings up 10 percent from March

 

Monthly foreclosure activity in North Carolina rose in April, up 10 percent from the previous month to 3,902 properties with foreclosure filings. This latest state total also represents a 27 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity in North Carolina rose again in April to a level well above what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment in North Carolina recently dropped to its lowest level within a year, but at 10.8 percent, joblessness in North Carolina remains above most of the nation.”

 

The state had the 37th highest state foreclosure rate in the nation with one in 1,077 North Carolina housing units receiving a foreclosure filing during the month.

 

Granville County posts top foreclosure rate for April

Granville County posted the highest county foreclosure rate in North Carolina for April, with one in every 344 housing units receiving a foreclosure filing — 3.1 times the state average. Mecklenburg County came in second, with one in every 405 housing units receiving a foreclosure filing — 2.7 times the state average. Guilford County was third, with one in every 463 housing units receiving a foreclosure filing — 2.3 times the state average.

 

Mecklenburg County led the state in total foreclosures for April

Mecklenburg County led the way, reporting 997 properties with foreclosure filings for the month. Wake County was second highest, documenting 590 properties with foreclosure filings. Reporting 461 properties with foreclosure filings for the month, Guilford County ranked third highest. Forsyth County was fourth, reporting 290 properties with foreclosure filings. A total of 147 properties with foreclosure filings were reported in Gaston County, the fifth highest county total in April.

 

State a modest contributor to nation’s month foreclosure total

North Carolina accounted for 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: 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 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.

 

 

North Carolina 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

North Carolina

512

0

1,157

0

2,233

3,902

1,077

0.36

n/a

 

 

 

 

 

 

 

 

 

 

Granville

0

0

0

0

64

64

344

1.13

3.13

Mecklenburg

18

0

646

0

333

997

405

0.96

2.66

Guilford

34

0

272

0

155

461

463

0.83

2.32

Dare

0

0

1

0

65

66

496

0.78

2.17

Forsyth

70

0

139

0

81

290

534

0.72

2.02

 

 

North Carolina Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 10

% Chg Apr 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

North Carolina

512

0

1,157

0

2,233

3,902

1,077

9.82

26.61

 

 

 

 

 

 

 

 

 

 

Mecklenburg

18

0

646

0

333

997

405

0.61

8.49

Wake

361

0

1

0

228

590

599

0.51

9.46

Guilford

34

0

272

0

155

461

463

-10.14

45.89

Forsyth

70

0

139

0

81

290

534

-23.88

4.69

Gaston

0

0

2

0

145

147

602

539.13

345.45

 

 

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