Foreclosures up in Jackson, Gulfport-Biloxi
Irvine, Calif.-based RealtyTrac surveyed actions against homeowners behind on their loans, ranging from an initial notice of default to outright lender repossession. Although Jackson and Gulfport-Biloxi posted double-digit increases from the second quarter, they still ranked among the lowest metropolitan areas in RealtyTrac’s survey.
RealtyTrac said cities in California, Florida, Nevada and Arizona accounted for all top 10 foreclosure rates in the third quarter.
Little has changed in the economy to help delinquent homeowners in recent months, said RealtyTrac CEO James Saccacio.
“The underlying problems that are causing homeowners to miss their mortgage payments – high unemployment, underemployment, toxic loans and negative equity – are continuing to plague most local housing markets,” Saccacio said. “And these historically high foreclosure rates will continue until those problems are resolved.”
During the third quarter in Mississippi:
- Gulfport-Biloxi recorded 254 actions that affected one in every 417 properties, ranking the area 168th. The rate rose 45.1 percent from the second quarter and was up 16.5 percent from the third quarter of 2009.
- The Jackson area recorded 395 foreclosure-related actions that affected one in every 565 properties, ranking the region 181st in the RealtyTrac count. The rate jumped 58 percent from the second quarter, but declined 66.8 percent from the third quarter of 2009.
RealtyTrac’s survey did not include other areas in Mississippi.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “Foreclosures up in Jackson, Gulfport-Biloxi”
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Judge moves McDaniel's lawsuit challenging loss to Cochran
- Tragedy for Jackson Prep: Football player Walker Wilbanks dies
- Officials set hunting dates for birds; expands dove season by 20 days
- TECH 21 — Mississippi's most wanted in technology
- DAVID DALLAS — Mississippi needs one university
- Scientists seeing more invasive trapjaw ants on Coast
- R.J. Allen ranked as fastest-growing company in Mississippi
- Senate election ballot approved as McDaniel's challenge continues
- Trop Greenville ahead of schedule on significant expansion