Indiana Among The Highest In The Nation For Foreclosure Filings

Indiana has the third highest foreclosure rate in the nation, according to data from the Fair Housing Center of Central Indiana.

The data shows that Marion County foreclosures rose for a third straight year. Last year, 1,630 Marion County homeowners defaulted on their mortgages and lenders took possession of their properties.

Amy Nelson, executive director of the Fair Housing Center of Central Indiana, said there are many factors that put people at risk of foreclosure. Even if mortgage payments stay the same, expenses including homeowners insurance, maintenance costs or property taxes could put people in a financial bind.

“There’s just not enough money to go around,” Nelson said. “Wages haven’t kept up with prices. Not only are individual housing costs going up, but costs for so many different things.”

The neighborhoods with the highest foreclosure rates is Crown Hill followed by Near Southside and Arlington Woods. In Crown Hill, ATTOM Data shows there is one foreclosed home for every 29 houses.

“Anytime we see these types of numbers going up, it raises significant concerns about somebody’s loss of housing, what might happen to that home, and the impact upon neighborhoods,” Nelson said.

The Fair Housing Center of Indiana, along with other community organizations, has proposed that one effective way to mitigate the rise in foreclosures is by creating a housing coalition, a concept they have been advocating for since last year.