Despite Improvements, Foreclosures Still Double Pre-Crisis Pace

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Posted To: MND NewsWire

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. The rate of completed foreclosures in April was nearly identical to the previous month. Both were reported...(read more)

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Source: http://www.mortgagenewsdaily.com/06092015_corelogic_foreclosures.asp

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