Indiana Foreclosure Activity Rises in August

Filings increase 17 percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 5,722 Indiana properties in August, a 17 percent increase from the previous month but an 11 percent decrease from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

“Indiana foreclosure activity ticked up in August, though it remained below the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state sat at 10.2 percent for the month, above the national average and a very real concern among residents struggling to hold onto their homes.”

 

The state reported the 16th highest state foreclosure rate, as one in every 488 Indiana housing units received a foreclosure filing during the month.

 

Marion County leads the state in foreclosure rate for August

Marion County, where one in every 223 housing units received a foreclosure filing during the month, posted the top foreclosure rate in Indiana. One in every 248 housing units received a foreclosure filing in Howard County, for the second highest rate in the state. Coming in third was Hancock County, where one in every 287 housing units received a foreclosure filing in August. Fourth highest was Miami County, where one in every 287 housing units received a foreclosure filing. Johnson County came in fifth, with one in every 288 housing units receiving a foreclosure filing during the month.

 

Marion County also posts top foreclosure total for August

Marion County also led Indiana in total foreclosure activity, reporting 1,878 properties with foreclosure filings. Lake County documented the second highest foreclosure activity, where 419 properties with foreclosure filings were reported. Allen County came in third, tallying 355 properties with foreclosure filings. Fourth highest was Elkhart County, where 226 properties with foreclosure filings were reported. St. Joseph County came in fifth, reporting 223 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Indiana accounted for 2 percent of the 338,836 properties with foreclosure filings reported nationwide in August. Total U.S. activity increased by more than 4 percent from the previous month, but was down more than 5 percent from the level reported in August 2009. One in every 381 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.

 

 

Indiana Top Foreclosure Rates By County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

n/a

n/a

Indiana

0

1,580

0

2,422

1,720

5,722

488

0.78

n/a

 

 

 

 

 

 

 

 

 

 

Marion

0

725

0

562

591

1,878

223

1.71

2.19

Howard

0

27

0

105

27

159

248

1.54

1.97

Hancock

0

26

0

40

31

97

287

1.33

1.70

Miami

0

14

0

29

12

55

287

1.33

1.70

Johnson

0

78

0

72

45

195

288

1.32

1.70

 

 

Indiana Top Foreclosure Totals by County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

4.18

-5.48

Indiana

0

1,580

0

2,422

1,720

5,722

488

17.35

-10.90

 

 

 

 

 

 

 

 

 

 

Marion

0

725

0

562

591

1,878

223

6.46

-45.53

Lake

0

139

0

215

65

419

503

-21.09

-10.66

Allen

0

119

0

117

119

355

431

63.59

17.16

Elkhart

0

41

0

94

91

226

344

9.71

48.68

St Joseph

0

6

0

116

101

223

514

55.94

5.69

 

 

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