State’s foreclosure actions fell in October
by Associated Press
Published: November 11,2010
Tags: real estate
ACROSS MISSISSIPPI — Foreclosure actions aimed at Mississippi homeowners cooled a bit in October, a national tracking company reported today.
Irvine, Calif.-based RealtyTrac said there were 516 foreclosure-related actions in Mississippi last month. Those ranged from an initial notice of default to outright lender repossession. The count was down 1.5 percent from September and down 4.3 percent from Oct. 2009.
Last month, lenders took back 241 properties in Mississippi. One in every 2,456 Mississippi housing units received a foreclosure-related notice, ranking the state 45th nationally.
RealtyTrac said lenders foreclosed on 93,326 U.S. properties in October, down 9 percent from the record high set in September, but still up 21 percent from Oct. 2009.
RealtyTrac CEO James Saccacio said the October number likely dropped because some lenders have stopped foreclosure proceedings over questions about the legality of some paperwork. Otherwise, the crisis continues relatively unabated, he said.
“October marks the 20th consecutive month where over 300,000 U.S. homeowners received a foreclosure notice,” Saccaciao said.
Nevada continued to have the state’s highest foreclosure rate in October, with one in every 79 housing units receiving a foreclosure-related notice. That was followed by Florida, Arizona, California, Michigan, Utah, Georgia, Idaho, Illinois and Colorado.
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Study: Mississippi has highest sales tax rate in U.S.
- Family launches Billups Coffee with headquarters in Oxford
- Chris McDaniel responds to radio show audio clip
- Running luxury car dealerships, like Mercedes of Jackson, comes naturally to Trudy Higginbotham Moody
- Mississippi State makes NSF ranking of research universities
- ‘Just the beginning’ — Venture Technologies merging, acquiring companies
- Chaney drops lawsuit against National Flood Insurance Program
- Sawtimber, pulpwood markets improving, but challenges remain
- Hood joins other AGs in efforts to curb copper theft
- Entergy gives $500K grant to The Nature Conservancy