Friday, November 27, 2015         

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Report: Foreclosures drop 20 percent

By Erika Engle


Total foreclosures in the U.S. in June were down to 55,000 from 68,000, or nearly 20 percent in June of 2012, according to analytics firm CoreLogic.

Prior to the 2007 housing market decline, completed foreclosures averaged 21,000 per month between 2000 and 2006, the company said.

Hawaii was among the five states with the lowest number of completed foreclosures in June. There were 106 in the District of Columbia; 397 in Hawaii; 481 in North Dakota; 534 in West Virginia, and 692 in Maine.

States with the most completed foreclosures were Florida (107,000); California (72,000); Michigan (63,000); Texas (48,000), and Georgia (44,000). The five states account for nearly half the national number of completed foreclosures.

Last month roughly 1 million U.S. homes were in some stage of the foreclosure process, down from 1.4 million in June of 2012.

"In the first six months of 2013, the stock of seriously delinquent mortgages has dropped by 412,000,” said Dr. Mark Fleming, chief economist for CoreLogic.

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