District of Columbia Foreclosures Fall in November

Filings down 79 percent from October and 83 percent from a year ago

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 61 District of Columbia properties in November, down 79 percent from the previous month and a 83 percent drop from the level reported in November 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

One in every 4,678 District of Columbia housing units received a foreclosure filing in November.

 

“Foreclosure activity in the District of Columbia dropped significantly in November to well below the month before and for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “This decline amid high unemployment can be attributed in large part to the filing freeze brought on by the ‘robo-signing’ controversy that is currently stalling foreclosure activity across much of the nation.”

 

District a minor contributor to total foreclosure total

District of Columbia accounted for less than 1 percent of the 262,339 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 21 percent from the previous month, and was down more than 14 percent from the level reported in November 2009. One in every 492 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.

 

District of Columbia Foreclosure Rate – November 2010

 

 

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

39,529

39,426

86,079

29,877

67,428

262,339

492

n/a

n/a

District of Columbia

0

0

19

0

42

61

4,678

0.11

n/a

 

 

 

 

 

 

 

 

 

 

 

 

District of Columbia Foreclosure Totals – November 2010

 

 

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 10

% Chg Nov 09

 

 

 

 

 

 

 

 

 

 

United States

39,529

39,426

86,079

29,877

67,428

262,339

492

-21.02

-14.44

District of Columbia

0

0

19

0

42

61

4,678

-79.25

-83.15

 

 

 

 

 

 

 

 

 

 

 

 

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