Posted To: MND NewsWire
Distressed properties nationwide now total significantly less than 3 million according to data released on Wednesday by Black Knight Financial Services. The majority of that number are now past due for less than 90 days. The company released its “first look” at May 2016 mortgage performance data which showed serious mortgage problems continuing to decline. Foreclosure starts, which did rise 5.79 percent from April to May are still, at 62,100 for the month, below pre-crisis levels. Starts are down by almost 20 percent from May 2015. The foreclosure inventory, properties in the process of foreclosure, stood at 574,000 in May, representing 1.13 percent of properties in the U.S. with a mortgage. That inventory has declined from 800,000 over the last year, a difference of 29 percent, and is down…(read more )