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”
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Congressional delegation applauds Air Force's decision on Keesler, but not satisfied
- Deal for Jackson-Orlando flights in works with Allegiant
- (UPDATED) Making Jackson-Evers affordable to Allegiant is key to regaining Orlando service
- County rescinds gun ban; sheriff says lawmakers may 'deal with the consequences'
- Great River Industries moving headquarters to Natchez
- Moon River Foods creating 100 jobs in Mississippi Delta
- Report: Mississippi sees biggest hike in home insurance premiums in U.S.
- Baseball stadium for Farish Street? It’s possible
- The Blues and higher education — Delta State launches the International Delta Blues Project
- Singing River shutting doors on two Coast clinics