Top Stories Montgomery

The number of Mississippi residents threatened by the loss of their homes dropped during the second quarter, a national tracking firm said Thursday.

Irvine, Calif.-based RealtyTrac said that for the three months ending June 30, 840 properties were targeted by some foreclosure-related action. But for those it was largely the end of the line, as 514 were repossessed by lenders and the other 326 were scheduled for a foreclosure sale.

The total number of actions fell 22.4 percent from the first quarter of 2011 and 17.8 percent from the second quarter of 2010.

Mississippi ranked 47th in the RealtyTrac count among the states and the District of Columbia in foreclosure-related actions during the second quarter.

Over the first half of 2011, Mississippi recorded 1,872 foreclosure-related filings, affecting one in every 685 housing units. That’s down 42 percent from the previous six months and 16.5 percent from the first half of 2010.

Mississippi ranked 46th in foreclosure actions for the first six months of the year.

Nationally, there were 608,235 foreclosure filings during the second quarter, involving 203,876 repossessions and 231,998 final sale notices. That affected one in every 214 U.S. housing units and down 10.7 percent from the first quarter of 2011 and 32 percent from the second quarter of 2010.

RealtyTrac also said that for the first half of 2011, 1.17 million housing units received some sort of foreclosure filing, down 25 percent from the previous six months and 29 percent from the first half of 2010.

However, RealtyTrac chief executive James Saccacio said the decrease shouldn’t be interpreted as any sort of major relief for the downtrodden housing business. He pointed to recent upticks in the unemployment rate, weak consumer confidence numbers and housing prices that continue to languish.

Saccacio said that RealtyTrac estimates that as many as 1 million foreclosure actions that should have taken place this year will be pushed back to 2011 or even later to avoid lenders being stuck with a glut of foreclosed properties.

This entry passed through the Full-Text RSS service — if this is your content and you’re reading it on someone else’s site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers. Five Filters featured article: Ten Years Of Media Lens – Our Problem With Mainstream Dissidents.

Post Footer automatically generated by Add Post Footer Plugin for wordpress.