Kentucky Foreclosures Rise in November

Foreclosure filings up 5 percent from October

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,387 Kentucky properties in November, up 5 percent from the previous month and a 38 percent rise from the level reported in November 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

One in every 1,385 Kentucky housing units received a foreclosure filing in November, the 39th highest state foreclosure rate in the nation.

 

“Kentucky reported a hike in foreclosure activity in November, up slightly from the previous month and well above what was reported for November 2009,” said James J. Saccacio, chief executive officer of RealtyTrac. “High unemployment within the state is largely to blame for mounting foreclosure notices. Joblessness is currently at 10.2 percent within the state and appears to be on the rise.”

 

Jefferson County has top foreclosure rate in November

Jefferson County posted the highest foreclosure rate in Kentucky for November, with one in every 379 housing units receiving a foreclosure filing — 3.7 times the state average. Hardin County had the second highest foreclosure rate, reporting one in every 384 housing units receiving a foreclosure filing — 3.6 times the state average. Christian County came in third, with one in every 679 housing units receiving a foreclosure filing — twice the state average.

 

Jefferson County also reports highest foreclosure total in November

Jefferson County also led the state in foreclosure activity, reporting 874 proprieties with a foreclosure filing. Hardin County had the second highest total reporting 116 properties with foreclosure filings. Kenton County was third highest, tallying 93 properties with foreclosure filings. Fayette County reported 90 properties with foreclosure filings for the month, the state’s fourth highest activity level. Christian County was fifth, reporting 43 properties with foreclosure filings.

 

State a minor contributor to total foreclosure total

Kentucky 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.

 

Kentucky Top Foreclosure Rates By County – November 2010

 

County

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

Kentucky

0

644

0

466

277

1,387

1,385

0.36

n/a

 

 

 

 

 

 

 

 

 

 

Jefferson

0

498

0

252

124

874

379

1.30

3.65

Hardin

0

103

0

0

13

116

384

1.28

3.60

Christian

0

17

0

17

9

43

679

0.72

2.04

Kenton

0

0

0

53

40

93

762

0.65

1.82

Pendleton

0

5

0

0

2

7

855

0.58

1.62

 

 

Kentucky Top Foreclosure Totals by County – November 2010

 

County

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

Kentucky

0

644

0

466

277

1,387

1,385

4.92

37.74

 

 

 

 

 

 

 

 

 

 

Jefferson

0

498

0

252

124

874

379

13.51

43.51

Hardin

0

103

0

0

13

116

384

222.22

452.38

Kenton

0

0

0

53

40

93

762

-30.08

-9.71

Fayette

0

0

0

71

19

90

1,479

-18.18

26.76

Christian

0

17

0

17

9

43

679

-2.27

43.33

 

 

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