Foreclosures rise in Mississippi - MSNewsNow.com - Jackson, MS

Foreclosures rise in Mississippi

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JACKSON, Miss. (AP) - The number of Mississippi homeowners receiving a foreclosure notice rose in August, but the state still has one of the lowest rates in the United States.

That's according to Irvine, California-based RealtyTrac, which tracks foreclosure activity nationwide.

In August, 588 homeowners in Mississippi received some kind of foreclosure-related notice. Those range from an initial notice of default to an outright repossession and sale. Last month, 261 properties were taken back from lenders -- up from 211 in July.

For the second straight month, no new final notices of sale were issued.

RealtyTrac says lenders nationwide seem to be rolling delinquent homeowners into the process at a slower rate -- perhaps to prevent further dips in home prices.

Mississippi's foreclosure rate is 44th nationally.

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