Arkansas, Fort Smith area sees increase in July foreclosure activity

Arkansas properties in some level of foreclosure action totaled 2,251 in July, up more than 110% from the 1,068 properties in July 2008, according to information from Irvine, Calif.-based RealtyTrac.

Sebastian County saw a big jump, with July 2009 foreclosure actions totaling 84, or up 75% over the 48 foreclosure actions in July 2008. In the western Arkansas area of Crawford, Franklin, Logan, Scott and Sebastian counties, properties in foreclosure action totaled 144 in July 2009, up 114.9% from July 2008.

Arkansas’ three biggest counties in terms of the number of housing units saw big increases in foreclosure filings. Washington County had 542 properties in a foreclosure action in July, up 173.7% over July 2008; Benton County had 497 properties in foreclosure, up 156.1%; and Pulaski County had 385 properties in foreclosure, up 88.7%.

In Oklahoma, there were 1,537 properties in foreclosure during July, down 11.05% compared to July 2008.

Nationwide, the RealtyTrac report found 360,149 U.S. properties in a foreclosure action during July, up 7% from June and up more than 32% from July 2008.

“July marks the third time in the last five months where we’ve seen a new record set for foreclosure activity,” James J. Saccacio, RealtyTrac CEO, noted in the statement. “Despite continued efforts by the federal government and state governments to patch together a safety net for distressed homeowners, we’re seeing significant growth in both the initial notices of default and in the bank repossessions.”

FORT SMITH AREA FIGURES
Properties in the foreclosure process
• Crawford County
July 2009: 53
July 2008: 14

• Franklin County
July 2009: 4
July 2008: 3

• Logan County
July 2009: 1
July 2008: 2

• Scott County
July 2009: 2
July 2008: 0

• Sebastian County
July 2009: 84
July 2008: 48