State spared brunt of foreclosure crisis

By The Associated Press

JACKSON – The number of Mississippi residents faced with the loss of their homes through foreclosure rose in July, but the rate still is one of the lowest in the United States.
RealtyTrac, which tracks foreclosure actions nationwide, said that 415 homeowners received a foreclosure-related notice last month. Those notices range from an initial default notice to outright repossession. That’s up 16.9 percent from June, but down 13.2 percent from July 2009.
Last month, 211 homes in Mississippi were taken back by lenders. But Irving, Calif.-based RealtyTrac noted that there were no additional notices of final sale – the last step before a home is taken back. For the second quarter of 2010 – April through June – 537 homes were repossessed.
With one in every 3,054 housing units receiving a foreclosure-related notice in July, Mississippi ranked 48th in the nation. Only North Dakota and West Virginia had lower rates.
Nationwide, lenders repossessed 92,858 properties last month, up 9 percent from June and an increase of 6 percent from July 2009.

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