Core Logic reports that 4.4% of all home loans in America were seriously delinquent in May, however, this number is down 23.9% from May, 2013. 660,000 homes are currently in foreclosure, down from a million in 2013. The reduction of foreclosure inventory is most evident in states with non-judicial foreclosure laws. Foreclosure inventory in these states, as a percentage of total mortgages in place, is half of what it is in states that require a judicial foreclosure process.
Thursday, August 14, 2014
Foreclosure Inventory
Core Logic reports that 4.4% of all home loans in America were seriously delinquent in May, however, this number is down 23.9% from May, 2013. 660,000 homes are currently in foreclosure, down from a million in 2013. The reduction of foreclosure inventory is most evident in states with non-judicial foreclosure laws. Foreclosure inventory in these states, as a percentage of total mortgages in place, is half of what it is in states that require a judicial foreclosure process.
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