Vermont Foreclosure Activity Up 7 Percent in November

Statewide foreclosure filings down 27 percent from November 2008

 

Vermont foreclosure activity rose for the month of November to 16 properties with foreclosure filings, up 7 percent from the previous month, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The monthly total is still 27 percent behind the level reported in November 2008.

 

“Vermont saw a slight increase in foreclosure activity in November, though the level remained well below what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “That said, with only 16 filings during the month, the state remained the least affected by foreclosures across the nation.”

 

One in every 19,465 Vermont housing units received a foreclosure filing in November, the 50th highest foreclosure rate in the nation.

 

Essex County posts state’s highest foreclosure rate in November

Essex County posted the highest county foreclosure rate in the state for November, with one in every 4,887 housing units receiving a foreclosure filing — four times the state average. Franklin County had the second highest rate, with one in every 6,969 housing units receiving a foreclosure filing — 2.8 time the state average. Rutland County came in third highest, with one in every 8,235 housing units receiving a foreclosure filing — 2.4 times the state average.

 

Rutland County led state in total foreclosure filings for November

Rutland County led all counties, totaling four properties with foreclosure filings for the month. Franklin County was second highest, documenting three properties with foreclosure filings.

 

State a minor contributor to nation’s foreclosure total in November

Vermont accounted for less than 1 percent of the 306,627 properties with foreclosure filings reported nationwide in November. Total U.S. activity declined nearly 8 percent from the previous month but was still 18 percent ahead of November 2008. One in every 417 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.

 

 

Vermont Top Foreclosure Rates By County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

n/a

n/a

Vermont

0

0

2

0

14

16

19,465

0.02

n/a

 

 

 

 

 

 

 

 

 

 

Essex

0

0

0

0

1

1

4,887

0.09

3.98

Franklin

0

0

0

0

3

3

6,969

0.06

2.79

Rutland

0

0

1

0

3

4

8,235

0.05

2.36

Lamoille

0

0

0

0

1

1

12,107

0.03

1.61

Orange

0

0

0

0

1

1

13,827

0.03

1.41

 

 

Vermont Top Foreclosure Totals by County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 09

% Chg Nov 08

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

-7.72

18.35

Vermont

0

0

2

0

14

16

19,465

6.67

-27.27

 

 

 

 

 

 

 

 

 

 

Rutland

0

0

1

0

3

4

8,235

100.00

100.00

Franklin

0

0

0

0

3

3

6,969

200.00

-40.00

Addison

0

0

0

0

1

1

16,450

-50.00

Bennington

0

0

0

0

1

1

20,663

-50.00

0.00

Caledonia

0

0

0

0

1

1

15,325

0.00

Chittenden

0

0

1

0

0

1

62,879

0.00

-50.00

Essex

0

0

0

0

1

1

4,887

-50.00

0.00

Lamoille

0

0

0

0

1

1

12,107

0.00

Orange

0

0

0

0

1

1

13,827

0.00

Windham

0

0

0

0

1

1

28,317

0.00

Windsor

0

0

0

0

1

1

33,320

-50.00

-50.00

 

 

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