Wisconsin Foreclosure Activity Rises in April

Statewide foreclosure filings up 4 percent from March

 

Monthly foreclosure activity in Wisconsin rose in April, up 4 percent from the previous month to 4,388 properties with foreclosure filings. This latest state total also represents a 14 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Wisconsin foreclosure filings crept up 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. “Even with the recent addition of jobs, Wisconsin’s unemployment rate is nearly 9 percent, leaving many struggling homeowners to face the threat of impending foreclosure.”

 

The state had the 23rd highest state foreclosure rate in the nation with one in 586 Wisconsin housing units receiving a foreclosure filing during the month.

 

Kenosha County posts top foreclosure rate for April

Kenosha County posted the highest county foreclosure rate in Wisconsin for April, with one in every 262 housing units receiving a foreclosure filing — 2.2 times the state average. Milwaukee County came in second, with one in every 312 housing units receiving a foreclosure filing — 1.9 times the state average. Racine County was third, with one in every 327 housing units receiving a foreclosure filing — 1.8 times the state average.

 

Milwaukee County led the state in total foreclosures for April

Milwaukee County led the way, reporting 1,315 properties with foreclosure filings for the month. Dane County was second highest, documenting 277 properties with foreclosure filings. Reporting 258 properties with foreclosure filings for the month, Kenosha County ranked third highest. Racine County was fourth, reporting 249 properties with foreclosure filings. A total of 220 properties with foreclosure filings were reported in Brown County, the fifth highest county total in April.

 

State a modest contributor to nation’s month foreclosure total

Wisconsin 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.

 

 

Wisconsin 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

Wisconsin

0

2,002

0

1,284

1,102

4,388

586

0.66

n/a

 

 

 

 

 

 

 

 

 

 

Kenosha

0

126

0

69

63

258

262

1.47

2.23

Milwaukee

0

597

0

354

364

1,315

312

1.24

1.88

Racine

0

140

0

49

60

249

327

1.18

1.79

Rock

0

109

0

33

64

206

334

1.16

1.75

Polk

0

36

0

17

10

63

386

1.00

1.52

 

 

Wisconsin 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

Wisconsin

0

2,002

0

1,284

1,102

4,388

586

3.69

13.65

 

 

 

 

 

 

 

 

 

 

Milwaukee

0

597

0

354

364

1,315

312

1.23

18.15

Dane

0

137

0

85

55

277

764

6.54

39.90

Kenosha

0

126

0

69

63

258

262

16.22

82.98

Racine

0

140

0

49

60

249

327

4.62

47.34

Brown

0

108

0

58

54

220

471

13.99

-1.35

 

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved