Mortgage Industry News
« Return to Mortgage Industry News
Despite Improvements, Foreclosures Still Double Pre-Crisis Pace
Tuesday, June 9, 2015
It continues to be clear that the
foreclosure crisis is winding down while ongoing elevated levels of mortgage
distress mean it could be a long time before it actually ends. CoreLogic's April 2015 National Foreclosure
Report shows dramatic year-over-year declines in both delinquencies and completed
foreclosures and a foreclosure inventory that has shrunk to less than a third
of its peak level. It also shows these
statistics remain at levels far above historic "norms."
The company said that there were 40,000
completed foreclosures nationwide in April compared to 50,000 in April 2014, a
decline of 19.8 percent year-over-year and down 65.8 percent from the foreclosure
peak in September 2010.
Read Full Article