Maine Foreclosure Activity Up Slightly in 2009

Statewide filings up 11 percent from 2008; Down 17 percent from November

 

Maine foreclosures were up in 2009, with 3,178 properties with foreclosure filings, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The yearly total represents an 11 percent increase from the total reported for 2008, and is 1,011 percent higher than the level reported for all of 2007.

 

Maine foreclosures increased only slightly in 2009 and decreased in December,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate is still well below the national average and home sales are beginning to pick up. If these trends continue, we may see foreclosures decline here in 2010.”

 

Maine ranked 41st in total foreclosures reported for 2009 when compared to the 50 states. With one in every 219 housing units receiving a foreclosure filing, Maine’s foreclosure rate also ranked 41st in the nation for the year.

 

Reporting 304 properties with foreclosure filings for December, Maine had a 17 percent decrease from the previous month, but was still 12 percent above December 2008. The state’s foreclosure rate — one in every 2,291 housing units received a foreclosure filing — ranked 43rd in the nation for the month.

 

Penobscot County posts state’s highest foreclosure rate for 2009

Penobscot County posted the highest county foreclosure rate in the state for the year, with one in every 95 housing units receiving a foreclosure filing in 2009. Kennebec County had the second highest foreclosure rate, with one in every 107 housing units receiving a foreclosure filing. York County came in third highest, with one in every 120 housing units receiving a foreclosure filing. Androscoggin County was fourth highest with one in every 280 housing units receiving a foreclosure filing, followed by Sagadahoc County, with one in every 312 housing units receiving a foreclosure filing.

 

York County led state in foreclosure activity in 2009

York County led the state in total foreclosures in 2009, reporting a total of 869 properties with foreclosure filings for the year. Penobscot County came in second, documenting 745 properties with foreclosure filings. Kennebec County had the third highest total in the state, reporting 560 properties with foreclosure filings for the year. Cumberland County was fourth highest, reporting 408 properties with foreclosure filings, followed by Androscoggin County in fifth place, tallying 172 properties with foreclosure filings for all of 2009.

 

State contributes less than 1 percent to nation’s foreclosure total in 2009

Maine accounted for less than 1 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

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.

 

 

Maine Top Foreclosure Rates by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Maine

3,178

0.46

219

11.47

1,011.19

 

 

 

 

 

 

Penobscot

745

1.05

95

23.55

3,821.05

Kennebec

560

0.93

107

34.62

3,900

York

869

0.84

120

-3.12

491.16

Androscoggin

172

0.36

280

26.47

1,333.33

Sagadahoc

57

0.32

312

26.67

714.29

 

 

Maine Top Foreclosure Totals by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Maine

3,178

0.46

219

11.47

1,011.19

 

 

 

 

 

 

York

869

0.84

120

-2.63

615.79

Penobscot

745

1.05

95

-3.12

491.16

Kennebec

560

0.93

107

23.55

3,821.05

Cumberland

408

0.31

326

34.62

3,900

Androscoggin

172

0.36

280

26.47

1,333.33

 

 

Maine Top Foreclosure Rates by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

Maine

0

36

0

169

99

304

2,291

0.16

n/a

 

 

 

 

 

 

 

 

 

 

Kennebec

0

13

0

35

11

59

1,015

0.36

2.26

York

0

19

0

39

25

83

1,253

0.29

1.83

Androscoggin

0

0

0

25

11

36

1,340

0.27

1.71

Sagadahoc

0

0

0

5

5

10

1,776

0.21

1.29

Penobscot

0

4

0

16

16

36

1,964

0.19

1.17

 

 

Maine Top Foreclosure Totals by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

Maine

0

36

0

169

99

304

2,291

-16.71

12.18

 

 

 

 

 

 

 

 

 

 

York

0

19

0

39

25

83

1,253

-36.64

97.62

Kennebec

0

13

0

35

11

59

1,015

-20.27

15.69

Cumberland

0

0

0

28

16

44

3,020

-12.00

25.71

Androscoggin

0

0

0

25

11

36

1,340

89.47

80.00

Penobscot

0

4

0

16

16

36

1,964

-14.29

-50.00

 

 

 

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