Wisconsin Foreclosure Activity Rises in August

Filings increase 2 percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 4,293 Wisconsin properties in August, a 2 percent increase from the previous month and an 8 percent increase from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

Wisconsin foreclosure filings ticked up slightly in August to a level above both the previous month and the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment — a major contributor to foreclosure trends — held steady at 7.9 percent in Wisconsin after several months of improvement.”

 

The state reported the 18th highest state foreclosure rate, as one in every 599 Wisconsin housing units received a foreclosure filing during the month.

 

Racine County leads the state in foreclosure rate for August

Racine County, where one in every 266 housing units received a foreclosure filing during the month, posted the top foreclosure rate in Wisconsin. One in every 313 housing units received a foreclosure filing in Columbia County, for the second highest rate in the state. Coming in third was Kenosha County, where one in every 318 housing units received a foreclosure filing in August. Fourth highest was Rock County, where one in every 334 housing units received a foreclosure filing. Polk County came in fifth, with one in every 342 housing units receiving a foreclosure filing during the month.

 

Milwaukee County posts top foreclosure total for August

Milwaukee County led Wisconsin in total foreclosure activity for August, reporting 885 properties with foreclosure filings. Racine County documented the second highest foreclosure activity, where 306 properties with foreclosure filings were reported. Dane County came in third, tallying 265 properties with foreclosure filings. Fourth highest was Waukesha County, where 230 properties with foreclosure filings were reported. Kenosha County came in fifth, reporting 213 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Wisconsin accounted for 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.

 

 

Wisconsin 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

Wisconsin

0

1,617

9

1,683

984

4,293

599

0.64

n/a

 

 

 

 

 

 

 

 

 

 

Racine

0

91

0

174

41

306

266

1.43

2.25

Columbia

0

39

0

27

15

81

313

1.22

1.91

Kenosha

0

78

0

88

47

213

318

1.20

1.88

Rock

0

64

0

93

49

206

334

1.14

1.79

Polk

0

22

0

29

20

71

342

1.11

1.75

 

 

Wisconsin 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

Wisconsin

0

1,617

9

1,683

984

4,293

599

2.36

8.27

 

 

 

 

 

 

 

 

 

 

Milwaukee

0

378

3

337

167

885

463

-23.64

-25.19

Racine

0

91

0

174

41

306

266

236.26

83.23

Dane

0

135

5

69

56

265

799

18.83

4.74

Waukesha

0

102

0

58

70

230

677

29.21

11.65

Kenosha

0

78

0

88

47

213

318

-9.75

41.06

 

 

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