Wisconsin Foreclosure Activity Falls in October

Statewide filings down 10 percent  from September

Foreclosure filings — default  notices, scheduled auctions and bank repossessions — were reported on 4,025 Wisconsin properties in October, a 10 percent decrease  from September and 16 percent below the level reported for October 2010, according to the latest RealtyTrac® U.S.  Foreclosure Market Report.

Wisconsin had the 15th highest foreclosure  rate in the nation, reporting one in every 643 housing units with a foreclosure  filing in October.

Racine County posts top foreclosure rate in the  state for October
  One in every 299 housing units in Racine County  had a foreclosure filing in October — 1.9 times the national average and 2.2  times the state average — the highest foreclosure rate of all Wisconsin  counties for the month. Rock County had the second highest rate of one in every  349 housing units with a foreclosure filing during the month — 1.6 times the  national average and 1.8 times the state average. Polk County had the third  highest rate of one in every 357 housing units with a foreclosure filing during  the month — 1.6 times the national average and 1.8 times the the state average.

Milwaukee County has state’s highest foreclosure  total in October
  Milwaukee County tallied the highest level of foreclosure activity  in the state, reporting 963 properties with foreclosure filings for October. Dane  County was second highest, reporting 282 properties with foreclosure filings. Racine  County was third, reporting 272 properties with foreclosure filings. Fourth  highest was Brown County, recording 254 properties with foreclosure filings. Waukesha  County was fifth highest, tallying 213 properties with foreclosure filings for  the month.

State a moderate contributor to total foreclosure  activity in October
  Wisconsin accounted for 2 percent of the 230,678  properties with foreclosure filings reported nationwide in October. Total U.S. activity  increased by more than 7 percent from September, but was down nearly 31 percent  from the level reported in October 2010. One in every 563 U.S. housing units received  a foreclosure filing during the month.

“The October foreclosure numbers continue to show strong signs that  foreclosure activity is coming out of the rain delay we’ve been in for the past  year as lenders corrected foreclosure paperwork and processing problems,” said  James Saccacio, chief executive officer of RealtyTrac. “However, recent state  court rulings and new state laws keep changing the rules of the foreclosure  game on the fly, creating more uncertainty in the housing market and  threatening to prolong the road to a robust real estate recovery.”

Wisconsin Top Foreclosure Rates By County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

n/a

n/a

Wisconsin

0

1,431

2

1,461

1,131

4,025

643

0.88

n/a

 

 

 

 

 

 

 

 

 

 

Racine

0

98

0

92

82

272

299

1.89

2.15

Rock

0

83

0

58

56

197

349

1.61

1.84

Polk

0

29

0

26

14

69

357

1.58

1.80

Columbia

0

19

0

23

23

65

395

1.43

1.63

Brown

0

118

0

64

72

254

409

1.38

1.57

 Wisconsin Top Foreclosure Totals by County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sep 11

% Chg Oct 10

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

7.36

-30.55

Wisconsin

0

1,431

2

1,461

1,131

4,025

643

-9.61

-16.41

 

 

 

 

 

 

 

 

 

 

Milwaukee

0

245

0

396

262

903

454

-23.28

-36.09

Dane

0

102

0

93

87

282

760

15.57

50.00

Racine

0

98

0

92

82

272

299

36.00

23.08

Brown

0

118

0

64

72

254

409

19.25

20.38

Waukesha

0

96

0

79

38

213

739

0.00

-14.46

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