West Virginia Reports Nearly 140 Properties With Foreclosure Filings in July

22 percent increase from June raises total back closer to level from April.

 

West Virginia reported 139 properties with foreclosure filings for the month, a 22 percent increase from the previous month and 266 percent above the level reported in July 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. 

 

“Foreclosures rose again in West Virginia in July, bringing the activity level to more than three times what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “At 9.4 percent, unemployment within the state is now at its highest in the past decade, contributing to mounting foreclosure woes among residents.”

 

West Virginia ranked 46th in the country in total properties with foreclosure filings for May. One in every 6,350 West Virginia housing units received a foreclosure filing during the month, ranking 49th among the 50 states.

 

Jefferson County posts state’s top foreclosure rate in July

Jefferson County posted the highest county foreclosure rate in the state for July, with one in every 983 housing units receiving a foreclosure filing — 6.5 times the state average. Berkeley County came in second highest, with one in every 2,042 housing units receiving a foreclosure filing during the month — 3.1 times the state average. Morgan County documented the third highest foreclosure rate, where one in every 2,374 housing units received a foreclosure filing — 2.7 times the state average.

 

Jefferson County leads state in foreclosure activity for July

Jefferson County tallied the highest activity level, reporting 22 properties with foreclosure filings for the month. Berkeley County came in second, documenting 21 properties with foreclosure filings. Kanawha County tallied 15 properties with foreclosure filings, the third highest total in the state. Wood County was fourth, reporting 11 properties with foreclosure filings, followed by fifth place Cabell County, where nine properties with foreclosure filings were reported for the month.

 

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

West Virginia 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.

 

 

West Virginia 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

West Virginia

0

0

119

0

20

139

6,350

0.06

n/a

 

 

 

 

 

 

 

 

 

 

Jefferson

0

0

18

0

4

22

983

0.36

6.46

Berkeley

0

0

20

0

1

21

2,042

0.17

3.11

Morgan

0

0

4

0

0

4

2,374

0.15

2.68

Wayne

0

0

4

0

4

8

2,446

0.15

2.60

Wirt

0

0

1

0

0

1

3,430

0.10

1.85

 

 

West Virginia 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

West Virginia

0

0

119

0

20

139

6,350

21.93

265.79

 

 

 

 

 

 

 

 

 

 

Jefferson

0

0

18

0

4

22

983

175.00

2,100.00

Berkeley

0

0

20

0

1

21

2,042

61.54

425.00

Kanawha

0

0

14

0

1

15

6,341

-34.78

66.67

Wood

0

0

8

0

3

11

3,713

22.22

83.33

Cabell

0

0

9

0

0

9

5,142

-43.75

800.00

 

 

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