State’s foreclosures more than double

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Published: April 16,2010

Tags: foreclosures, housing crisis, mortgage, real estate

ACROSS MISSISSIPPI — The number of Mississippi homeowners facing or hit by foreclosure has more than doubled over the past year.

That is according to RealtyTrac, which tracks foreclosures nationwide.

In March, 518 Mississippi properties were targeted for some kind of foreclosure action, ranging from a notice of default to outright repossession. In March 2009, there were 221 such actions in the state.

Last month, 224 properties were actually taken from their owners. That is down from 333 in February, but up from only 42 in March 2009.

Mississippi ranks 45th on the foreclosure list.

Nationally, foreclosure actions are up 16 percent from a year ago. RealtyTrac says that is due to foreclosure moratoriums ending and banks working through problem loans.

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