Mississippi Foreclosure Activity Increases in August

Filings increase 42 percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 588 Mississippi properties in August, a 42 percent increase from the previous month and a 19 percent increase from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

“Foreclosure activity was up in Mississippi for August,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in auctions, which climbed 60 percent for the month. While declining, the state’s unemployment rate is still above the national average. This is an important contributing factor to the rise in foreclosure activity the state is experiencing.”

Mississippi ranked 40th in the nation in total foreclosures for the month. Its foreclosure rate of one in every 2,155 housing units receiving a foreclosure filing during the month ranked it 44th among the 50 states.

Rankin County posts highest foreclosure rate in the state for August

One in every 690 housing units received a foreclosure filing in Rankin County during August, the highest county foreclosure rate in the state for the month. One in every 735 housing units received a foreclosure filing in De Soto County, the second highest county rate. Coming in third was Hancock County, where one in every 1,056 housing units received a foreclosure filing in August. Fourth highest was Hinds County, where one in every 1,076 housing units received a foreclosure filing. Harrison County came in fifth, with one in every 1,079 housing units receiving a foreclosure filing during the month.

 

Hinds County leads state in total foreclosure activity in August

Hinds County led the state in total foreclosure activity for August, reporting 99 properties with foreclosure filings. Second highest was De Soto County, where 82 properties with foreclosure filings were reported. Rankin County came in third, tallying 81 properties with foreclosure filings. Fourth highest was Harrison County, where 75 properties with foreclosure filings were reported. Jackson County came in fifth, reporting 49 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Mississippi 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.

 

 

Mississippi 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

Mississippi

0

0

327

0

261

588

2,155

0.18

n/a

 

 

 

 

 

 

 

 

 

 

Rankin

0

0

73

0

8

81

690

0.55

3.12

De Soto

0

0

45

0

37

82

735

0.52

2.93

Hancock

0

0

4

0

14

18

1,056

0.36

2.04

Hinds

0

0

52

0

47

99

1,076

0.35

2.00

Harrison

0

0

28

0

47

75

1,079

0.35

2.00

 

 

Mississippi 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

Mississippi

0

0

327

0

261

588

2,155

41.69

19.27

 

 

 

 

 

 

 

 

 

 

Hinds

0

0

52

0

47

99

1,076

76.79

39.44

De Soto

0

0

45

0

37

82

735

13.89

-51.48

Rankin

0

0

73

0

8

81

690

305.00

28.57

Harrison

0

0

28

0

47

75

1,079

47.06

38.89

Jackson

0

0

25

0

24

49

1,167

96.00

600.00

 

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved