Completed Foreclosures Still Elevated Despite Decline
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Completed foreclosures, homes lost to foreclosure, have declined by 20 percent year-over-year in April 2015. Even though they have decreased since last April, they remain elevated at roughly 40,000 completed foreclosures.
“Despite a slow and steady improvement in most housing market fundamentals, too many families remain in default of their mortgage obligations,” said Anand Nallathambi, President and CEO of CoreLogic. “The percent of homeowners with a mortgage that have missed three or more monthly payments or are in foreclosure proceedings dropped to 3.6 percent in our April data. While well below the record peak of nearly 9 percent and the lowest in more than seven years, it remains about double the pre-2007 rate.”
Source: DSNews.com
COMPLETED FORECLOSURES STILL ELEVATED DESPITE DECLINE
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