Indiana Foreclosure Activity Falls in February

Statewide filings down 19 percent from January

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 4,079 Indiana properties in February, a 19 percent decrease from January, but still 46 percent above the level reported for February 2011, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Indiana had the 13th highest foreclosure rate in the nation, reporting one in every 685 housing units with a foreclosure filing in February.

Howard County posts top foreclosure rate in the state for February
 One in every 339 housing units in Howard County had a foreclosure filing in February — 1.9 times the national average and twice the state average — the highest foreclosure rate of all Indiana counties for the month. Henry County had the second highest rate of one in every 373 housing units with a foreclosure filing during the month — 1.7 times the national average and 1.8 times the state average. Elkhart County had the third highest rate of one in every 376 housing units with a foreclosure filing during the month — 1.7 times the national average and 1.8 times the state average.

Marion County has top foreclosure total in February
 Marion County led the state by a large margin, reporting 819 properties with foreclosure filings for the month. Lake County was second highest, reporting 490 properties with foreclosure filings. Allen County was third, reporting 331 properties with foreclosure filings. Fourth highest was Hamilton County, recording 273 properties with foreclosure filings. Elkhart County was fifth, tallying 207 properties with foreclosure filings for the month.

State a moderate contributor to total foreclosure activity in February
 Indiana accounted for 2 percent of the 206,900 properties with foreclosure filings reported nationwide in February. Total U.S. activity decreased by 2 percent from January and was down over 8 percent from the level reported in February 2011. One in every 637 U.S. housing units received a foreclosure filing during the month.

“February’s numbers point to a gradually rising foreclosure tide as some of the barriers that have been holding back foreclosures are removed,” said Brandon Moore, CEO of RealtyTrac. “Although national foreclosure activity was pushed lower by decreases in a handful of larger states, 21 states posted annual increases in foreclosure activity, the most states with annual increases since November 2010.

“The foreclosure and mortgage settlement filed in court earlier this week will help pave the way to a properly functioning foreclosure process by providing a clear roadmap for necessary foreclosures,” Moore continued. “That should result in more states posting annual increases in the coming months. Not surprisingly, many of the biggest annual increases in February were in states with the more bureaucratic judicial foreclosure process, which resulted in a larger backlog of foreclosures built up over the last 18 months in those states.”

 Indiana Top Foreclosure Rates By County – February 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

23,058

35,828

60,700

23,480

63,834

206,900

637

n/a

n/a

Indiana

0

1,032

0

1,951

1,096

4,079

685

0.93

n/a

 

 

 

 

 

 

 

 

 

 

Howard

0

32

0

51

31

114

339

1.88

2.02

Henry

0

0

0

36

21

57

373

1.70

1.84

Elkhart

0

54

0

129

24

207

376

1.69

1.82

Hamilton

0

36

0

128

109

273

391

1.63

1.75

Shelby

0

1

0

33

13

47

406

1.57

1.69

Indiana Top Foreclosure Totals by County – February 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Jan 12

% Chg Feb 11

 

 

 

 

 

 

 

 

 

 

United States

23,058

35,828

60,700

23,480

63,834

206,900

637

-1.92

-8.09

Indiana

0

1,032

0

1,951

1,096

4,079

685

-19.05

46.15

 

 

 

 

 

 

 

 

 

 

Marion

0

476

0

120

223

819

510

-51.77

-6.08

Lake

0

74

0

323

93

490

426

25.96

29.29

Allen

0

110

0

131

90

331

460

22.59

57.62

Hamilton

0

36

0

128

109

273

391

72.78

118.40

Elkhart

0

54

0

129

24

207

376

7.25

168.83

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