MS Foreclosures Climbing
The pace of home foreclosures in Mississippi slowed substantially in 2011, following a national trend that may soon be reversed.
That’s according to Irvine, Calif.-based RealtyTrac, which tracks foreclosures nationwide.
RealtyTrac says that, in 2011, 3,172 homes in the state were hit by some sort of foreclosure notice. Those range from an initial notice of default to repossession by a lender. The state ranked 46th in the country as the foreclosure rate fell 40 percent from 2010 and 41 percent from 2009.
RealtyTrac says foreclosures are likely to pick up in 2012 as legal snarls with paperwork that delayed many foreclosures are worked out. Typically, Mississippi has ranked at the bottom of foreclosure numbers throughout the housing crisis because of the low number of homeowners in the state.
