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Foreclosure Metrics Declined nearly a Quarter in 2015

Tuesday, February 9, 2016

The number of properties in the process of foreclosure nationwide dropped by nearly a quarter from the end of 2014 to the end of this past year.  CoreLogic said today that homes in that category, usually referred to as the foreclosure inventory, declined from 568,000 in December 2014 to 433,000 at the same point in 2015. Those numbers represented 1.5 percent of mortgaged homes at the earlier date compared to 1.1 percent at the recent point, a difference of 23.8 percent.

Completed foreclosures were also down substantially, falling by 22.6 percent over the 12 month period.  There were 41,000 homes taken by lenders in December 2014 and 32,000 a year later.  The December 2015 number is down 72.8 percent from the peak month for foreclosures, September 2010, when there were 117,722.  Since the rate of homeownership peaked in early 2004 some 8 million homes have been foreclosed.

 

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