Miss. being spared brunt of foreclosure crisis - MSNewsNow.com - Jackson, MS

Miss. being spared brunt of foreclosure crisis


JACKSON, Miss. (AP) - The number of Mississippi residents faced with losing their homes through foreclosure rose in July, but the rate still is 1 of the lowest in the nation.

RealtyTrac, which tracks foreclosure actions nationwide, said that 415 homeowners received a foreclosure-related notice last month. Those range from an initial default notice to outright repossession. That's up 16.9% from June, but down 13.2% from July 2009.

Last month, 211 homes in Mississippi were taken back by lenders. But RealtyTrac noted that there were no additional notices of final sale - the last step before a home is taken back.

With one in every 3,054 housing units receiving a foreclosure-related notice in July, Mississippi ranked 48th in the nation.

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