Kentucky Foreclosure Activity Decreases in August

Filings decrease 24 percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,151 Kentucky properties in August, a 24 percent decrease from the previous month but a 4 percent increase from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

Kentucky foreclosure activity declined in August,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decrease was in the number of default notices, which fell 75 percent for the month. Additionally, the volume of the state’s home sales climbed more than twice the national average during the second quarter. These are two contributing factors to the recent decline in foreclosure activity we are seeing.”

Kentucky ranked 36th in the nation in total foreclosures for the month. Its foreclosure rate of one in every 1,669 housing units receiving a foreclosure filing during the month, ranked it 41st among the 50 states.

Kenton County posts highest foreclosure rate in the state for August

One in every 496 housing units in Kenton County received a foreclosure filing during the month, the highest county foreclosure rate in the state for the month. One in every 570 housing units received a foreclosure filing in Boone County, for the second highest rate in the state. Coming in third was Christian County, where one in every 584 housing units received a foreclosure filing in August. Fourth highest was Jefferson County, where one in every 611 housing units received a foreclosure filing. Fayette County came in fifth, with one in every 1,178 housing units receiving a foreclosure filing during the month.

 

State’s top foreclosure total for August in Jefferson County

Jefferson County led the state in total foreclosure activity for August, reporting 543 properties with foreclosure filings. Second highest was Kenton County, where 143 properties with foreclosure filings were reported. Fayette County came in third, tallying 113 properties with foreclosure filings. Fourth highest was Boone County, where 79 properties with foreclosure filings were reported. Christian County came in fifth, reporting 50 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Kentucky accounted for less than 1 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.

 

 

Kentucky 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

Kentucky

0

122

0

529

500

1,151

1,669

0.23

n/a

 

 

 

 

 

 

 

 

 

 

Kenton

0

0

0

111

32

143

496

0.77

3.37

Boone

0

0

0

53

26

79

570

0.67

2.93

Christian

0

12

0

21

17

50

584

0.65

2.86

Jefferson

0

82

0

252

209

543

611

0.62

2.73

Fayette

0

0

0

63

50

113

1,178

0.32

1.42

 

 

Kentucky 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

Kentucky

0

122

0

529

500

1,151

1,669

-24.13

4.54

 

 

 

 

 

 

 

 

 

 

Jefferson

0

82

0

252

209

543

611

-33.78

-7.34

Kenton

0

0

0

111

32

143

496

25.44

57.14

Fayette

0

0

0

63

50

113

1,178

14.14

2.73

Boone

0

0

0

53

26

79

570

46.30

25.40

Christian

0

12

0

21

17

50

584

11.11

127.27

 

 

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