Vermont Foreclosures Falls in November

Foreclosure filings down 55 percent from October

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 10 Vermont properties in November, a drop of 55 percent from the previous month and a 38 percent decrease from the level reported in November 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

One in every 31,262 Vermont housing units received a foreclosure filing in November, the 50th highest state foreclosure rate in the nation.

 

“Foreclosure activity in Vermont dropped significantly in November to well below what was reported for one month prior and for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “While this recent drop can be attributed in large part to the temporary filing freeze brought on by the ‘robo-signing’ controversy, the state’s comparatively low unemployment rate of 5.7 percent has also played a role in keeping Vermont’s foreclosure rate the lowest in the nation.”

 

Bennington County has top foreclosure rate in November

Bennington County posted the highest foreclosure rate in Vermont for November, with one in every 6,919 housing units receiving a foreclosure filing — 4.5 times the state average. Rutland County had the second highest foreclosure rate, reporting one in every 8,233 housing units receiving a foreclosure filing — 3.8 times the state average. Addison County came in third, with one in every 16,558 housing units receiving a foreclosure filing — 1.9 times the state average.

 

Rutland County reports highest foreclosure total in the state

Rutland County led Vermont in foreclosure activity in November, reporting four properties with foreclosure filings. Bennington came in second, reporting three properties with foreclosure filings. Addison, Windham and Windsor counties had the third highest total each reporting one property with foreclosure filings. 

 

State a minor contributor to total foreclosure total

Vermont 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.

 

Vermont 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

Vermont

0

0

6

0

4

10

31,262

0.02

n/a

 

 

 

 

 

 

 

 

 

 

Bennington

0

0

2

0

1

3

6,919

0.07

4.52

Rutland

0

0

3

0

1

4

8,233

0.06

3.80

Addison

0

0

0

0

1

1

16,558

0.03

1.89

Windham

0

0

1

0

0

1

28,380

0.02

1.10

Windsor

0

0

0

0

1

1

33,419

0.01

0.94

 

 

Vermont 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

Vermont

0

0

6

0

4

10

31,262

-54.55

-37.50

 

 

 

 

 

 

 

 

 

 

Rutland

0

0

3

0

1

4

8,233

0.00

0.00

Bennington

0

0

2

0

1

3

6,919

0.00

200.00

Addison

0

0

0

0

1

1

16,558

 n/a

0.00

Windham

0

0

1

0

0

1

28,380

-75.00

0.00

Windsor

0

0

0

0

1

1

33,419

-50.00

0.00

 

 

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