Foreclosure Normalization: An End that Never Comes

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Posted To: MND NewsWire

Foreclosure statistics continue to fall, month after month but seemingly never reach bottom or even normal levels. Anyone care to revisit Zeno's Third Paradox ? Snark aside, it is good news that July was another month that saw an ebbing role for foreclosures in housing. CoreLogic's National Foreclosure Report shows the month with significant declines in both completed foreclosures and legal actions in process compared to a year earlier and what are becoming typical month-over-month declines. Completed foreclosures numbered 38,000 in July compared to 50,000 a year earlier, an annual decrease of 24.4 percent. It was a 6.2 percent drop from June 2015 when 40,000 homes were lost to foreclosure. CoreLogic said in a typical month prior to the housing crash an estimated 21,000 foreclosures were completed...(read more)

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Source: http://www.mortgagenewsdaily.com/09082015_corelogic_foreclosures.asp

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