South Carolina Foreclosure Activity Rises in August

Statewide  filings up 12 percent from July

Foreclosure  filings — default notices, scheduled auctions and bank repossessions — rose in  South Carolina, where 3,339 properties were reported in August, a 12 percent  increase from July, but 1 percent below the level reported for August 2010, according to the latest RealtyTrac®  U.S. Foreclosure Market Report.

South  Carolina had the 14th highest foreclosure rate in the country with  one in every 624 housing units with a foreclosure filing in August.

Beaufort County posts top foreclosure rate in the  state for August
  One in every 274 housing  units in Beaufort County received a foreclosure filing in August — 2.1 times  the national average and 2.3 times the state average — the highest foreclosure  rate of all South Carolina counties for the month. Berkeley County had the second  highest rate of one in every 288 housing units with a foreclosure filing during  the month — twice the national average and 2.2 times the state average. Dorchester  County had the third highest rate of one in every 367 housing units with a foreclosure  filing during the month — 1.6 times the national average and 1.7 times the  state average.

Greenville County has top foreclosure total in  August
  Greenville County led the  state in foreclosure activity, reporting 360 properties with foreclosure  filings for the month. Charleston County was second highest, reporting 354 properties  with foreclosure filings. Horry County was third, reporting 353 properties with  foreclosure filings. Fourth highest was Beaufort County, recording 308  properties with foreclosure filings. Richland County was fifth tallying 288  properties with a foreclosure filing.

State a minor contributor to total foreclosure  activity in August
  South Carolina accounted  for 1 percent of the 228,098 properties with foreclosure filings reported  nationwide in August. Total U.S. activity increased by more than 7 percent from  July, but was down nearly 33 percent from the level reported in August 2010. One  in every 570 U.S. housing units received a foreclosure filing during the month.

“The big increase in new foreclosure actions may be  a signal that lenders are starting to push through some of the foreclosures  delayed by robo-signing and other documentation problems,” said James Saccacio,  chief executive officer of RealtyTrac. “It also foreshadows more bank repossessions  in the coming months as these new foreclosures make their way through the  process.”

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: DefaultNotice  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.

 

      South Carolina Top Foreclosure Rates By County – August 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,765

38,115

63,347

21,058

64,813

228,098

570

n/a

n/a

South Carolina

0

1,976

0

670

693

3,339

624

0.91

n/a

 

 

 

 

 

 

 

 

 

 

Beaufort

0

123

0

54

131

308

274

2.08

2.27

Berkeley

0

76

0

49

114

239

288

1.98

2.17

Dorchester

0

72

0

39

23

134

367

1.55

1.70

York

0

135

0

46

48

229

397

1.43

1.57

Charleston

0

158

0

116

80

354

495

1.15

1.26

 

 

      South Carolina Top Foreclosure Totals by County – August 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg July 11

% Chg Aug 10

 

 

 

 

 

 

 

 

 

 

United States

40,765

38,115

63,347

21,058

64,813

228,098

570

7.21

-32.68

South Carolina

0

1,976

0

670

693

3,339

624

11.97

-1.48

 

 

 

 

 

 

 

 

 

 

Greenville

0

257

0

83

20

360

534

22.87

-14.49

Charleston

0

158

0

116

80

354

495

-13.66

14.19

Horry

0

230

0

82

41

353

497

-14.11

-25.05

Beaufort

0

123

0

54

131

308

274

42.59

91.30

Richland

0

194

0

39

55

288

552

32.72

76.69

 

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