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Home 9 Chapter 128 9 Milwaukee County Foreclosures Up Last Month

Milwaukee County Foreclosures Up Last Month

by | Sep 6, 2011 | Chapter 128, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Debt Settlement

Here’s an article by Paul Gores of the Milwaukee Journal Sentinel revealing some unfortunate statistics about foreclosures in Milwaukee County last month:

Foreclosure filings spike in August

After slowing down this year, foreclosure filings spiked in Milwaukee County in August, setting the pace for an overall 34% increase in foreclosure actions in southeastern Wisconsin from July.

Court records show there were 970 foreclosure filings in August after 725 were recorded in July in Kenosha, Milwaukee, Ozaukee, Racine, Walworth, Washington and Waukesha counties. July had fewest filings of any month this year.

In Milwaukee County, foreclosure filings jumped to 543 after totaling only 367 filings in July. August was the first time that Milwaukee County topped 500 foreclosure filings in a single month in 2011. In 2010, Milwaukee County monthly totals exceeded 500 filings nine times.

Kenosha and Racine also posted relatively big jumps in filings from July to August. Kenosha’s rose to 107 from 80, while Racine’s went to 107 from 78.

Economists say foreclosure numbers generally track with unemployment trends.

While foreclosure filings rose on a month-to-month basis, August’s total of 970 still was down about 6.5% from 1,037 in August 2010. Foreclosure filings in southeastern Wisconsin totaled 7,080 through August, compared with 8,175 in the first eight months of last year.

Other July-to-August county results: Ozaukee, 18, up from 16; Walworth, down to 60 from 64; Washington, unchanged at 38; and Waukesha, 97, up from 82.

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