Posted To: MND NewsWire
CoreLogic reported on Tuesday that the foreclosure inventory, the number of homes in some stage of foreclosure, had dropped to 390,000 in May, representing 1 percent of all mortgaged homes in the U.S. This is a 24.5 percent decline from a year earlier when the inventory contained 517,000 homes, a rate of 1.3 percent. The May 2016 foreclosure inventory rate is the lowest for any month since October 2007 and was down 3.0 percent compared to April 2016. The company’s May 2016 National Foreclosure Report also shows the number of completed foreclosures nationwide decreased from 41,000 in May 2015 to 38,000 in the most recent period and were 67.9 percent below the September 2010 peak of 117,813. However, there were 2,000 more completed foreclosures in May than in April and the incidence is still…(read more )