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Marion County, Indiana ranks number 43 of 100 counties in
the nation with the highest percentage of households
facing
foreclosure, according to data provided in RealtyTrac's August 2007
U.S. Foreclosure Market Report.
In August, 243,947 foreclosure filings were reported nationwide;
up 36 percent from the previous month and up 115 percent from August
2006. This is the highest number of foreclosure filings in a single
month that RealtyTrac has reported since it began issuing the
monthly report in January 2005.
The report also showed a national foreclosure rate of one
foreclosure filing for every 510 households for the month; the
highest national ratio ever issued by the foreclosure tracking
company.
For homeowners in Marion County the ratio is even more alarming.
One of every 183.49 households in the county is now facing
foreclosure.
Statewide, Indiana reported 5,008 foreclosures for August 2007
bringing the state to the number ten position for states with the
highest foreclosure rates. Overall, one of every 544 households in
Indiana faced foreclosure during the month. This is an 11.91 percent
increase from July statistics and a 41.35 percent increase in
foreclosure filings in August 2006.
With 412299 households and total foreclosure filings in August
reaching 2247, Marion County is one of 3 counties in Indiana to make
the national list for counties with the highest foreclosure rates.
Although it is unclear what may have caused foreclosure activity
in Marion County to spike, one thing is clear. The situation is a
national crises for homeowners with mortgages they can no longer
afford AND an unprecedented opportunity for investors and home
buyers.
The resources listed below can help you protect your home,
lower and even cancel your mortgage, or find a new home at a price
no one could have imagined just a few years ago. |
