Vermont Reports 11 Properties With Foreclosure Filings in July

Rate unchanged from June.

 

Vermont reported 11 properties with foreclosure filings for the month, unchanged from the previous month and 120 percent above the level reported in July 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. 

 

“Foreclosures remained stable in Vermont in July, though activity was more than twice the amount reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate dropped again in July to 6.8 percent, though that improvement is expected to be short-lived due to the addition of seasonal hiring increases in the leisure and hospitality industries.”

 

Vermont ranked 50th in the country in total properties with foreclosure filings for May. One in every 28,312 Vermont housing units received a foreclosure filing during the month, ranking 50th among the 50 states.

 

Grand Isle County posts state’s top foreclosure rate in July

Grand Isle County posted the highest county foreclosure rate in the state for July, with one in every 4,944 housing units receiving a foreclosure filing — 5.7 times the state average. Orleans County came in second highest, with one in every 7,849 housing units receiving a foreclosure filing during the month — 3.6 times the state average. Franklin County documented the third highest foreclosure rate, where one in every 10,453 housing units received a foreclosure filing — 2.7 times the state average.

 

Three counties share the lead in foreclosure activity for July

Franklin, Orleans and Windsor counties tallied the highest activity level, each reporting two properties with foreclosure filings for the month. Chittenden, Grand Isle, Lamoille, Rutland and Washington counties came in second, each documenting one property with a foreclosure filing.

 

State a minor contributor to nation’s foreclosure activity in July

Vermont was a minor contributor to the nation’s foreclosure activity. There were 360,149 properties with foreclosure filings reported nationwide in July. Total U.S. activity rose almost 7 percent from the previous month and was more than 32 percent ahead of July 2008. One in every 355 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. 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 filed against a property during the month — which is extremely rare — 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 – July 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

62,939

71,565

104,830

33,557

87,258

360,149

355

n/a

n/a

Vermont

0

0

0

0

11

11

28,312

0.01

n/a

 

 

 

 

 

 

 

 

 

 

Grand Isle

0

0

0

0

1

1

4,944

0.07

5.73

Orleans

0

0

0

0

2

2

7,849

0.05

3.61

Franklin

0

0

0

0

2

2

10,453

0.03

2.71

Lamoille

0

0

0

0

1

1

12,107

0.03

2.34

Windsor

0

0

0

0

2

2

16,660

0.02

1.70

 

 

Vermont Top Foreclosure Totals by County – July 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 09

% Chg July 08

 

 

 

 

 

 

 

 

 

 

United States

62,939

71,565

104,830

33,557

87,258

360,149

355

6.74

32.32

Vermont

0

0

0

0

11

11

28,312

0.00

120.00

 

 

 

 

 

 

 

 

 

 

Franklin

0

0

0

0

2

2

10,453

100.00

n/a

Orleans

0

0

0

0

2

2

7,849

n/a

n/a

Windsor

0

0

0

0

2

2

16,660

0.00

100.00

Chittenden

0

0

0

0

1

1

62,879

-66.67

-66.67

Grand Isle

0

0

0

0

1

1

4,944

n/a

n/a

Lamoille

0

0

0

0

1

1

12,107

0.00

n/a

Rutland

0

0

0

0

1

1

32,940

-50.00

n/a

Washington

0

0

0

0

1

1

29,172

-50.00

0.00

 

 

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