Montana Foreclosures Fall in November

Filings down 13 percent from October

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 267 Montana properties in November, down 13 percent from the previous month, but still a 73 percent increase from the level reported in November 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

One in every 1,642 Montana housing units received a foreclosure filing in November, the 40th highest state foreclosure rate in the nation.

 

“Foreclosure activity in Montana dropped in November, though it remained well above what was reported for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “This decline can be partially attributed to the state’s slowly-improving job market, although the filing freeze brought on by the ‘robo-signing’ controversy currently stalling foreclosure activity across the nation is also to blame.”

 

Mineral County has top foreclosure rate in November

One in every 330 housing units received a foreclosure filing in Mineral County in November — 1.5 times the national average and five times the state average. Golden Valley County had the second highest rate, reporting one in every 445 housing units receiving a foreclosure filing — 1.1 times the national average and 3.7 times the state average. Ravalli County came in third, with one in every 532 housing units receiving a foreclosure filing — 3.1 times the state average.

 

Flathead County reports highest foreclosure total in the state

Flathead County led the state in foreclosure activity, reporting 43 properties with foreclosure filings. Gallatin County had the second highest total reporting 36 properties with foreclosure filings. Ravalli County was third highest, tallying 31 properties with foreclosure filings. Yellowstone County reported 28 properties with foreclosure filings for the month, the state’s fourth highest activity level. Missoula County was fifth, reporting 24 properties with foreclosure filings.

 

State a minor contributor to total foreclosure total

Montana 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.

 

Montana 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

Montana

0

0

103

0

164

267

1,642

0.30

n/a

 

 

 

 

 

 

 

 

 

 

Mineral

0

0

2

0

4

6

330

1.49

4.98

Golden Valley

0

0

1

0

0

1

445

1.11

3.69

Ravalli

0

0

9

0

22

31

532

0.92

3.08

Pondera

0

0

0

0

5

5

560

0.88

2.93

Toole

0

0

2

0

2

4

569

0.87

2.89

 

 

Montana 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

Montana

0

0

103

0

164

267

1,642

-13.31

73.38

 

 

 

 

 

 

 

 

 

 

Flathead

0

0

17

0

26

43

886

-37.68

16.22

Gallatin

0

0

19

0

17

36

1,073

5.88

125.00

Ravalli

0

0

9

0

22

31

532

72.22

181.82

Yellowstone

0

0

11

0

17

28

2,115

3.70

366.67

Missoula

0

0

8

0

16

24

1,930

-29.41

100.00

 

 

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