North Dakota Foreclosure Activity Up in February

Statewide filings increase 63 percent from January; Up 68 percent from February 2009

 

Foreclosure activity in North Dakota increased in February to 62 properties with foreclosure filings, up 63 percent from the previous month and 68 percent above the level reported in February 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“North Dakota foreclosures were up in February,” said James J. Saccacio chief executive officer of RealtyTrac. “The largest increase was in bank-owned properties, which climbed 91 percent for the month. Even so, foreclosures here are much lower than most states. With the lowest unemployment rate in the country, it is likely that foreclosure activity in North Dakota will remain minimal.”

 

North Dakota ranked 48th in the country in total foreclosures reported for the month. With one in every 5,054 housing units receiving a foreclosure filing, its foreclosure rate ranked 48th among the 50 states.

 

Ransom County posts top foreclosure rate in the state for February

Ransom County posted the state’s highest county foreclosure rate in February, with one in every 1,369 housing units receiving a foreclosure filing — 3.7 times the state average. Cass County was second, with one in every 1,563 housing units receiving a foreclosure filing — 3.2 times the state average. Richland County came in third highest, with one in every 1,933 housing units receiving a foreclosure filing — 2.6 times the state average.

 

Cass County reports highest number in total foreclosures in February

Cass County led the way, totaling 42 properties with foreclosure filings for the month. Richland County was second, documenting four properties with foreclosure filings. Grand Forks and Morton counties both ranked third highest, with each reporting three properties with foreclosure filings for the month. Burleigh and Ransom counties both came in fourth place, each reporting two properties with foreclosure filings.

 

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

North Dakota accounted for less than 1 percent of the 308,524 properties with foreclosure filings reported nationwide in February. Total U.S. activity declined more than 2 percent from the previous month but was still 6 percent ahead of February 2009. One in every 418 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.

 

 

North Dakota Top Foreclosure Rates by County – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

n/a

n/a

North Dakota

0

0

0

20

42

62

5,054

0.08

n/a

 

 

 

 

 

 

 

 

 

 

Ransom

0

0

0

0

2

2

1,369

0.31

3.69

Cass

0

0

0

14

28

42

1,563

0.27

3.23

Richland

0

0

0

1

3

4

1,933

0.22

2.61

Nelson

0

0

0

0

1

1

2,016

0.21

2.51

Sargent

0

0

0

0

1

1

2,089

0.20

2.42

 

 

 

North Dakota Top Foreclosure Totals by County – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

% Chg

Jan 10

% Chg

Feb 09

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

-2.28

6.22

North Dakota

0

0

0

20

42

62

5,054

63.16

67.57

 

 

 

 

 

 

 

 

 

 

Cass

0

0

0

14

28

42

1,563

162.50

147.06

Richland

0

0

0

1

3

4

1,933

33.33

300.00

Grand Forks

0

0

0

3

0

3

9,863

-40.00

-66.67

Morton

0

0

0

0

3

3

3,980

200.00

n/a

Burleigh

0

0

0

1

1

2

16,835

-60.00

-33.33

Ransom

0

0

0

0

2

2

1,369

n/a

100.00

 

 

 

 

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