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Foreclosure Rates and Mortgage Delinquencies

Foreclosure filings hit a 15-year low in 2019

The current housing market bears little resemblance to the early 2000s

You may have seen headlines declaring that another housing crisis is right around the corner. What those stories probably won’t tell you is that foreclosures, which triggered the last crisis, are at an all-time low.

Real estate data provider ATTOM Data Solutions reports that foreclosure activity in 2019 fell 21 percent from the year before and was down 83 percent from the peak in 2010. It was at its lowest level last year since the company began tracking the data in 2005...

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    Foreclosure activity plunges in the third quarter

    Improving economy and tougher lending standards may be responsible

    Foreclosure activity hit an 11-year low in this year's third quarter, as an improving economy and stricter mortgage standards helped stabilize the housing market to pre-2008 levels.

    The Third Quarter 2017 U.S. Foreclosure Market Report, compiled by ATTOM Data Solutions, shows there were 191,824 properties subject to foreclosure filings, which include default notices, scheduled auctions or bank repossessions.

    The number is down 13 percent from the second quarter and 35 percent lower from a year ago. It's the lowest level since the second quarter of 2006, at the height of the housing bubble.

    This does not appear to be a one-off occurrence. The drop in foreclosure activity in the last quarter was the fourth straight quarter in which it has tracked below the pre-recession average.

    “Legacy foreclosures from the high-risk loans originating between 2004 and 2008 have largely been cleared out of the distressed market pipeline,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.

    Tougher lending standards

    New post-crash mortgages must adhere to stricter standards and are subsequently performing much better, Blomquist says. The exception is FHA loans made in 2014.

    Blomquist says those loans aren't performing nearly as well, with a foreclosure rate higher than any year since 2009. He explains it by noting there was a gradual loosening of credit that year.

    Lenient lending standards in the early 2000s, along with a large number of subprime mortgages, created a “foreclosure tsunami” that was out of control by 2007. A year later, one in every 538 U.S. households received a foreclosure filing during March 2008, a five percent rise over the previous month and a shocking 57 percent increase over March 2007.

    Now, applicants are required to have two solid years of employment history at the same company or in the same industry, have a good credit score, and a debt to income ratio of no more than 43 percent.

    According to the Consumer Financial Protection Bureau (CFPB), studies have shown that mortgage applicants with a higher debt-to-income are more likely to have trouble making their monthly mortgage payments.

    Benefits for homeowners

    At the height of the foreclosure crisis, buyers had a lot more homes to choose from than they do today. However, the decline in foreclosures has produced major benefits for homeowners. The housing market is now more stable and home prices have risen back to their pre-crash levels in many housing markets.

    Matthew Gardner, chief economist at Windermere Real Estate, covering the Seattle market, says foreclosure activity there is at a record low.

    “As long as the regional economy continues to flourish, I do not expect to see foreclosures rise,” Gardner said.

    The current threat to the housing market, he says, is price growth, which is good for homeowners but has started to negatively affect affordability, and according to Gardner, “is becoming troublesome.”

    Foreclosure activity hit an 11-year low in this year's third quarter, as an improving economy and stricter mortgage standards helped stabilize the housing...

    Foreclosures rose in November but are still historically low

    But it's still a problem in parts of the South

    The housing market has come a long way from the dark days of 2010, when foreclosures dominated real estate news and dragged property values lower in neighborhoods across America.

    Today, you don't hear much about foreclosures, but they're still occurring. Fortunately, it's not happening anywhere near as often as the immediate aftermath of the real estate crash.

    Black Knight Financial Services has issued a report on November foreclosures and mortgage delinquencies, showing a slight increase from October, but both numbers remain near 10-year lows.

    Foreclosure starts were 6.9% higher than in October but were down nearly 10% from November 2015. November's mortgage delinquency rate was 4.46%, up over two and a half percent from October but down 9.43% from a year ago.

    Big improvement from last year

    In just about every category having to do with either foreclosure or mortgage delinquency, this year's numbers are sharply lower than last year's, suggesting the last of the housing crisis inventory has been settled.

    While subprime mortgages, which trapped many consumers with home loans they couldn't afford, served as the trigger for the first wave of foreclosures, the resulting financial crisis that threw millions out of work produced the second wave.

    Today, with a stronger economy and tougher loan qualification standards, foreclosures are usually the result of some specific and personal financial setback. And there are many fewer of them.

    For example, nationwide the number of properties that are 90 days or more past due total 682,000, up slightly from October but down 145,000 from November 2015.

    More common in the South

    The Black Knight report also shows that many of the foreclosures and delinquent mortgages are in the South. Mississippi leads the nation with 11.56% of non-current mortgages. Louisiana is next with 10.09%, New Jersey with 8.2%, Alabama with 8.06%, and West Virginia with 7.94%.

    Homeowners in North Dakota, Colorado, Minnesota, and Montana are doing the best job of keeping up their house payments, with delinquency rates under 3%.

    According to data compiled from RealtyTrac, the Federal Reserve, and Equifax, there were 1.2 million completed foreclosures in 2007, at the start of the foreclosure tsunami, peaking in 2011 at 3.58 million. Last year, the number had fallen to 575,378.

    The housing market has come a long way from the dark days of 2010, when foreclosures dominated real estate news and dragged property values lower in neighb...

    Completed foreclosures post sharp annual decline in October

    The national foreclosure inventory was down as well

    Both completed foreclosures and the national foreclosure inventory posted sharp year-over-year declines in October.

    Property information provider CoreLogic reports the number of completed foreclosures nationwide dropped by 10,000 from October 2015 to 30,000 in this past October -- down 24.9% from October 2015 and 74.7% from the peak of 118,287 in September 2010.

    The foreclosure inventory, which represents the number of homes at some stage of the foreclosure process and completed foreclosures, plunged 31.5 %.

    Since the financial meltdown began in September 2008, there have been approximately 6.5 million completed foreclosures nationally. Since home ownership rates peaked in the second quarter of 2004, there have been approximately 8.5 million homes lost to foreclosure.

    As of October, the national foreclosure inventory included approximately 328,000, or 0.8%, of all homes with a mortgage. A year earlier, it was 479,000 homes, or 1.2%.

    "Housing and labor markets improved over the past year, setting the stage for further declines in foreclosure rates across much of the nation," said Anand Nallathambi, president and CEO of CoreLogic. "Home values posted an annual gain of 5.8% through September in the CoreLogic Home Price Index, and payroll employment rose 2.4 million for the year through October."

    Mortgage delinquencies

    The number of mortgages in serious delinquency -- 90 days or more past due including loans in foreclosure or REO -- declined by 24.8% from October 2015 to October 2016. One million mortgages, or 2.5%, were in serious delinquency, the lowest level since August 2007. Declines occurred in 47 states and the District of Columbia.

    "Loan performance varies by the health of the local economy and housing market. Alaska, North Dakota and Wyoming, three states with energy-related job loss, experienced a rise in serious delinquency rates while all other states had a decline," said Dr. Frank Nothaft, chief economist for CoreLogic. "Although there were large declines in foreclosure rates in New York and New Jersey, both states experienced the highest serious delinquency rates in the nation, reflecting lagging home values in most neighborhoods and an unemployment rate above the national average."

    Report highlights

    • On a month-over-month basis, completed foreclosures declined by 27.5% to 30,000 in October from the 41,000 reported for September. As a basis of comparison, completed foreclosures averaged 22,000 per month nationwide between 2000 and 2006.
    • On a month-over-month basis, the October foreclosure inventory was down 3.6% compared with September 2016.
    • The five states with the highest number of completed foreclosures in the 12 months ending in October were Florida (51,000), Michigan (29,000), Texas (26,000), Ohio (23,000), and Georgia (20,000). These five states accounted for 36% of completed foreclosures nationally.
    • Four states and the District of Columbia had the lowest number of completed foreclosures in the 12 months ending in October: the District of Columbia (212), North Dakota (278), West Virginia (407), Alaska (622), and Montana (660).
    • Four states and the District of Columbia had the highest foreclosure inventory rate in October: New Jersey (2.8%), New York (2.7%), Maine (1.7%), Hawaii (1.7%), and the District of Columbia (1.6%).
    • The five states with the lowest foreclosure inventory rate in October 2016 were Colorado, Minnesota, Arizona, Utah, and Michigan -- all at 0.3%.
    Both completed foreclosures and the national foreclosure inventory posted sharp year-over-year declines in October.Property information provider CoreLo...

    Economy: Completed foreclosures, jobless claims down

    Serious mortgage delinquencies were lower as well

    Another month of declines in both completed foreclosures and the foreclosure inventory.

    Property information provider CoreLogic reports completed foreclosures declined by 7.0% in September from the same time a year ago, while the foreclosure inventory plunged 31.1%.

    The number of completed foreclosures nationwide was down year-over-year by 3,000 -- to 36,000 in September 2016, representing a drop of 69.7% from the peak of 118,222 in September 2010.

    The foreclosure inventory represents the number of homes at some stage of the foreclosure process and completed foreclosures reflect the total number of homes lost to foreclosure.

    Since the financial meltdown began in September 2008, there have been approximately 6.4 million completed foreclosures nationally. Since homeownership rates peaked in the second quarter of 2004, there have been approximately 8.5 million homes lost to foreclosure.

    As of September, the national foreclosure inventory included approximately 340,000, or 0.9%, of all homes with a mortgage, versus 493,000 homes, or 1.3%, the year before.

    Mortgage delinquencies

    The number of mortgages in serious delinquency -- 90 days or more past due including loans in foreclosure or REO -- plummeted 24.8% from September 2015 to September 2016, with 1 million mortgages, or 2.6%, in serious delinquency. That's the lowest level since August 2007. Decreases were seen in 48 states and the District of Columbia.

    “This improvement is continued evidence of the recovery in the housing market,” said Dr. Frank Nothaft, chief economist for CoreLogic, “especially given that the decreases were fairly uniform in most cities across the country.”

    Report highlights

    • On a month-over-month basis, completed foreclosures increased by 5.2% to 36,000 in September from the 34,000 reported for August. As a basis of comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.
    • The September foreclosure inventory was down 3.1% compared with August 2016.
    • The five states with the highest number of completed foreclosures in the 12 months ending in September were Florida (53,000), Texas (27,000), Michigan (24,000), Ohio (23,000), and Georgia (21,000).These five states accounted for 36% of completed foreclosures nationally.
    • Four states and the District of Columbia had the lowest number of completed foreclosures in the 12 months ending in September: the District of Columbia (186), North Dakota (338), West Virginia (447), Alaska (643), and Montana (701).
    • Four states and the District of Columbia had the highest foreclosure inventory rate in September: New Jersey (3.0%), New York (2.7%), Maine (1.8%), Hawaii (1.8%), and the District of Columbia (1.6%).
    • The five states with the lowest foreclosure inventory rate in September 2016 were Colorado (0.3%), Minnesota (0.3%), Arizona , Michigan, and Utah (all at 0.3%).

    Jobless claims

    The decline last week in first-time applications for state unemployment benefits more than wiped out the increase posted the previous week.

    The Department of Labor (DOL) reports initial jobless claims were down by 11,000 in the week ending November 5 to a seasonally adjusted 254,000.

    It's now been 88 straight weeks that claims have been below 300,000 the longest streak since 1970.

    The four-week moving average inched up 1,750 from a week earlier to 259,750. This measure is seen as a better gauge of the labor market as it lacks the volatility seen in the weekly headcount.

    The complete report may be found on the DOL website.

    Another month of declines in both completed foreclosures and the foreclosure inventory.Property information provider CoreLogic repo...

    Foreclosures drop sharply in August

    Rates are the lowest in several years

    The nation's foreclosure inventory plunged 29.6% and completed foreclosures were down an even sharper 42.4% from a year earlier, according to the CoreLogic National Foreclosure Report.

    In another way of looking at it, the number of completed foreclosures nationwide posted a year-over-year decline of 27,000 -- to 37,000 in August 2016 -- representing a drop of 69% from the peak of 118,221 in September 2010.

    Foreclosure inventory

    The foreclosure inventory represents the number of homes at some stage of the foreclosure process and completed foreclosures reflect the total number of homes lost to foreclosure.

    Since the financial meltdown began in September 2008, there have been approximately 6.4 million completed foreclosures nationally. Since homeownership rates peaked in the second quarter of 2004, there have been approximately 8.5 million homes lost to foreclosure.

    As of last August, the national foreclosure inventory included approximately 351,000, or 0.9%, of all homes with a mortgage. A year earlier, it was 499,000 homes, or 1.3%.

    The August 2016 foreclosure inventory rate is the lowest it’s been since July 2007.

    “With the foreclosure inventory now under 1% nationally, the need to boost single-family housing stocks through new construction will become more acute in the coming months and years,” said Anand Nallathambi, president and CEO of CoreLogic.

    Mortgage delinquencies

    In addition, CoreLogic reports the number of mortgages in serious delinquency was down 20.6% from August 2015, with 1.1 million mortgages, or 2.8%, being the lowest level since September 2007.

    The decline was broad-based with decreases in serious delinquency in 48 states and the District of Columbia.

    Report highlights

    • On a month-over-month basis, completed foreclosures increased by 7.7% to 37,000 in August from the 34,000 reported for the previous month. As a basis of comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.
    • On a month-over-month basis, the August foreclosure inventory was down 3.2% from July.
    • The five states with the highest number of completed foreclosures in the 12 months ending in August were Florida (55,000), Texas (27,000), Ohio (23,000), California (22,000), and Georgia (21,000).These five states account for about 35% of completed foreclosures nationally.
    • Four states and the District of Columbia had the lowest number of completed foreclosures in the 12 months ending in August 2016: the District of Columbia (212), North Dakota (341), West Virginia (469), Alaska (624), and Montana (717).
    • Four states and the District of Columbia had the highest foreclosure inventory rate in August 2016: New Jersey (3.2%), New York (2.9%), Maine (1.8%), Hawaii (1.8%), and the District of Columbia (1.8%).
    • The five states with the lowest foreclosure inventory rate in August 2016 were Colorado, Minnesota, Arizona, Utah, and Michigan -- all at 0.3%.
    The nation's foreclosure inventory plunged 29.6% and completed foreclosures were down an even sharper 42.4% from a year earlier, according to the CoreLogic...

    Foreclosure inventory, completed foreclosures down again in July

    Serious mortgage delinquencies continued their decline

    The number of homes at some stage of the foreclosure process -- the foreclosure inventory -- was down in July, as was the number of completed foreclosures, which reflects the total number of homes lost to foreclosure.

    Property information provider CoreLogic reports last month's inventory plunged 29.1% and completed foreclosures declined by 16.5% compared with July 2015. The latter translates to a year-over-year decline from 41,000 in July 2015 to 34,000 in July 2016, representing a decrease of 71.2% from the peak of 118,009 in September 2010.

    Since the start of the financial meltdown in September 2008, there have been approximately 6.4 million completed foreclosures nationally, and since homeownership rates peaked in the second quarter of 2004, there have been approximately 8.5 million homes lost to foreclosure.

    As of this past July, the national foreclosure inventory included approximately 355,000, or 0.9%, of all homes with a mortgage versus 501,000 homes, or 1.3%, in July 2015. The latest July foreclosure inventory rate is the lowest for any month since August 2007.

    "Loan modifications, foreclosures and stronger housing and labor markets have each played a role in bringing the foreclosure rate to the lowest level in nine years," said CoreLogic Chief Economist Dr. Frank Nothaft. "The U.S. Treasury's Making Home Affordable program has contributed to the decline through permanent modifications, forbearance and foreclosure alternatives which have assisted 2.5 million homeowners with first mortgages at risk of foreclosure since 2009."

    CoreLogic also reports that the number of mortgages in serious delinquency -- 90 days or more past due including loans in foreclosure or REO -- were down 17.3% from July 2015 to July 2016, with 1.1 million mortgages, or 2.9%, in this category. The decline was broad-based, with declines in 47 states and the District of Columbia.

    Report highlights

    • On a month-over-month basis, completed foreclosures decreased by 6.8% to 34,000 in July 2016 from the 36,000 reported for June 2016. As a basis of comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.
    • On a month-over-month basis, the foreclosure inventory was down 3.9% from June.
    • The five states with the highest number of completed foreclosures in the 12 months ending in July 2016 were Florida (57,000), Michigan (45,000), Texas (27,000), Ohio (23,000), and California (21,000). These five states account for almost 40% of all completed foreclosures nationally.
    • Four states and the District of Columbia had the lowest number of completed foreclosures: DC (207), North Dakota (324), West Virginia (488), Alaska (635), and Montana (700).
    • Four states and the District of Columbia had the highest foreclosure inventory rate: New Jersey (3.3%), New York (3%), Hawaii (1.8%), Maine (1.8%), and the District of Columbia (1.8%).
    • The five states with the lowest foreclosure inventory rate were Colorado, Minnesota, Utah, Arizona, and Alaska -- all at 0.3%.
    The number of homes at some stage of the foreclosure process -- the foreclosure inventory -- was down in July, as was the number of completed foreclosures,...

    Number of homes in foreclosure drops sharply in June

    Completed foreclosures were down as well

    The nation continues to crawl out of the hole created by the previous decade's housing meltdown.

    Property information provider CoreLogic reports the foreclosure inventory plunged 25.9% in June from the same time last year, while completed foreclosures were down 4.9%. The number of completed foreclosures as of this past June (38,000) represents a decline of 67.5% from the peak (117,835) in September 2010.

    Since the bottom fell out in September 2008, there have been approximately 6.3 million completed foreclosures nationally, with approximately 8.4 million homes lost to foreclosure since homeownership rates peaked in the second quarter of 2004.

    Roughly 375,000, or 1.0%, of all homes with a mortgage were in some stage of the foreclosure process in June, putting the foreclosure inventory rate at the lowest point for any month since August 2007.

    Serious delinquencies

    In addition, the number of mortgages in serious delinquency -- 90 days or more past due including loans in foreclosure or REO -- posted a year-over-year decline of 21.3% in June, for a rate of 2.8%, the lowest in nearly nine years.

    “Mortgage loan performance depends on the economic health of local markets, with varied differences even within a state,” said CoreLogic Chief Economist Dr. Frank Nothaft. “Within Texas, the serious delinquency rate in the Dallas metropolitan area has fallen by 0.5% from a year earlier, as home prices and employment have continued to rise. The rate in the Midland area, on the other hand, has jumped 0.5%, reflecting the weakness in oil production and job loss over the past year.”

    Report highlights

    • On a month-over-month basis, completed foreclosures rose 5.1% to 38,000 in June 2016 from a year earlier. As a basis of comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.
    • On a month-over-month basis, the foreclosure inventory was down 3.6%.
    • The five states with the highest number of completed foreclosures in the 12 months ending in June were Florida (60,000), Michigan (47,000), Texas (27,000), Ohio (23,000), and California (22,000). These five states account for almost 40% of all completed foreclosures nationally.
    • Four states and the District of Columbia had the lowest number of completed foreclosures: The District of Columbia (179), North Dakota (321), West Virginia (487), Alaska (639), and Montana (675).
    • Four states and the District of Columbia had the highest foreclosure inventory rate: New Jersey (3.4%), New York (3.1%), the District of Columbia (2%), Hawaii (2%), and Maine (1.9%).
    • The five states with the lowest foreclosure inventory rate were Colorado (0.3%), Michigan (0.3%), Minnesota (0.3%), Nebraska (0.3%), and Utah (0.3%).
    The nation continues to crawl out of the hole created by the previous decade's housing meltdown.Property information provider CoreLogic reports the for...

    Foreclosure inventories plunge in May

    Completed foreclosures were lower as well

    The inventory of foreclosed homes fell sharply during May according to the CoreLogic National Foreclosure Report.

    The property information provider says the number of homes at some stage of the foreclosure process was down 24.5% from the same month a year ago, while completed foreclosures fell by 6.9% year-over-year.

    The decline in completed foreclosures nationwide works out to 38,000 last May from 41,000 in May 2015. That represents a drop of 67.9% from the peak of 117,813 in September 2010.

    Since the financial meltdown began in September 2008, there have been approximately 6.3 million completed foreclosures nationally, and since homeownership rates peaked in the second quarter of 2004, there have been approximately 8.3 million homes lost to foreclosure.

    "The foreclosure rate fell to 1% in May, which is twice the long-term average of 0.5%. However, this masks the underlying progress at the state level," said Dr. Frank Nothaft, chief economist for CoreLogic. "Twenty-nine states had foreclosure rates below the national average, and all but North Dakota experienced declines in their foreclosure rate compared to the prior year."

    Mortgage delinquencies

    CoreLogic also reports the number of mortgages in serious delinquency (defined as 90 days or more past due including loans in foreclosure or Real Estate Owned) declined by 21.6% from May 2015 to May 2016, with 1.1 million mortgages, or 2.8%, in this category. The May 2016 serious delinquency rate is the lowest since October 2007.

    "Delinquency and foreclosure rates continue to drop as we experience the benefits of a combination of tight underwriting, job and income growth and a steady rise in home prices,” said CoreLogic President and CEO Anand Nallathambi. “We expect these factors to remain in place for the remainder of this year and for delinquency and foreclosure rates to decline even further."

    Report highlights

    • On a month-over-month basis, completed foreclosures increased by 5.5% to 38,000 in May 2016 from April. As a basis of comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.
    • On a month-over-month basis, the foreclosure inventory was down 3.0%.
    • The five states with the highest number of completed foreclosures were Florida (63,000), Michigan (45,000), Texas (27,000), Ohio (23,000), and California (23,000).These five states account for almost half of all completed foreclosures nationally.
    • Four states and the District of Columbia had the lowest number of completed foreclosures: the District of Columbia (139), North Dakota (323), West Virginia (494), Alaska (648) and Montana (690).
    • Four states and the District of Columbia had the highest foreclosure inventory rate: New Jersey (3.6%), New York (3.2%), Hawaii (2.1%), the District of Columbia (2.0%), and Maine (1.9%).
    • The five states with the lowest foreclosure inventory rate were Alaska (0.3%), Arizona (0.3%), Colorado (0.3%), Minnesota (0.3%), and Utah (0.3%).
    The inventory of foreclosed homes fell sharply during May according to the CoreLogic National Foreclosure Report.The property information provider says...

    The decline in foreclosures continues

    The foreclosure inventory was down sharply

    Global property information provider CoreLogic reports completed foreclosures across the country fell 15.8% in April -- to 37,000 from 43,000 a year earlier. Since the peak of 117,813 in September 2010, completed foreclosures are down 68.9%.

    In addition, the foreclosure inventory was down 23.4% from April 2015. Completed foreclosures reflect the total number of homes lost to foreclosure, while the foreclosure inventory represents the number of homes at some stage of the foreclosure process.

    Since the financial meltdown began in September 2008, there have been approximately 6.2 million completed foreclosures nationally, and since homeownership rates peaked in the second quarter of 2004, there have been approximately 8.3 million homes lost to foreclosure.

    As of this past April, the national foreclosure inventory included approximately 406,000, or 1.1% percent, of all homes with a mortgage. A year earlier, it was 530,000 homes, or 1.4%. The April 2016 foreclosure inventory rate is the lowest for any month since September 2007.

    Serious deliquencies

    The number of mortgages in serious delinquency -- 90 days or more past due including loans in foreclosure or Real Estate Owned -- dropped 21.6% from April 2015 to April 2016, with 1.1 million mortgages, or 3%, in this category. The April 2016 serious delinquency rate is the lowest since October 2007.

    “The recovery in home prices and improved labor market have contributed to the drop in seriously delinquent rates,” said Dr. Frank Nothaft, chief economist for CoreLogic. “Over the 12 months through April, the CoreLogic Home Price Index for the U.S. rose 6.2 % and the labor market gained 2.6 million jobs. We also found that the seriously delinquent rate fell by about three-quarters of a percentage point.”

    Report highlights

    • On a month-over-month basis, completed foreclosures rose 0.3% to 37,000 in April. As a basis of comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.
    • On a month-over-month basis, the foreclosure inventory was down 3% compared with March 2016.
    • The five states with the highest number of completed foreclosures for the 12 months ending in March 2016 were Florida (69,000), Michigan (48,000), Texas (28,000), Georgia (23,000), and California (23,000). These five accounted for about 41% of all completed foreclosures nationally.
    • Four states and the District of Columbia had the lowest number of completed foreclosures: The District of Columbia (128), North Dakota (317), West Virginia (482), Alaska (653), and Montana (695).
    • Four states and the District of Columbia had the highest foreclosure inventory rate: New Jersey (3.7%), New York (3.2%), Hawaii (2.2%), the District of Columbia (2.1%), and Florida (2%).
    • The five states with the lowest foreclosure inventory rate were Alaska (0.3%), Minnesota (0.3%), Utah (0.4%, Arizona (0.4%), and Colorado (0.4%).
    Global property information provider CoreLogic reports completed foreclosures across the country fell 15.8% in April -- to 37,000 from 43,000 a year earlie...

    Completed foreclosures decline in March

    The foreclosure inventory was lower as well

    The number of completed foreclosures and the foreclosure inventory were lower in March from the same month in 2015.

    Property information, analytics and data-enabled services provider CoreLogic reports completed foreclosures fell 14.9% from March 2015, and are down 69.7% from the peak in September 2010.

    The foreclosure inventory, which represents the number of homes at some stage of the foreclosure process, dropped 23.2% from the same time a year ago.

    On a month-over-month basis, completed foreclosures rose 9.3% from February, while inventories were down 2.2%.

    Since the financial meltdown began in September 2008, there have been approximately 6.2 million completed foreclosures nationally; and since home-ownership rates peaked in the second quarter of 2004, there have been approximately 8.2 million homes lost to foreclosure.

    Report highlights

    • The five states with the highest number of completed foreclosures for the 12 months ending in March 2016 were Florida (69,000), Michigan (48,000), Texas (28,000), Georgia (23,000), and California (23,000). These five states accounted for about 41% of all completed foreclosures nationally.
    • Four states and the District of Columbia had the lowest number of completed foreclosures for the 12 months ending in March 2016: The District of Columbia (114), North Dakota (311), West Virginia (541), Wyoming (634), and Alaska (644).
    • Four states and the District of Columbia had the highest foreclosure inventory as a percentage of all mortgaged homes in March 2016: New Jersey (4.0%), New York (3.3%, Hawaii (2.3%), the District of Columbia (2.2%), and Florida (2.1%).
    • The five states with the lowest foreclosure inventory rate in March 2016 were Alaska (0.3%), Minnesota (0.4%), Arizona (0.4%), Colorado (0.4%), and Utah (0.4%).
    The number of completed foreclosures and the foreclosure inventory were lower in March from the same month in 2015.Property information, analytics and ...