{"id":6499,"date":"2014-06-02T13:22:02","date_gmt":"2014-06-02T13:22:02","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=6499"},"modified":"2014-06-02T13:22:02","modified_gmt":"2014-06-02T13:22:02","slug":"foreclosures-drop-lowest-level-since-great-recession","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/foreclosures-drop-lowest-level-since-great-recession\/","title":{"rendered":"Foreclosures Drop to Lowest Level Since Great Recession"},"content":{"rendered":"

Foreclosures Drop to Lowest Level Since Great Recession<\/h2>\n
\"Foreclosures<\/a>

Foreclosures Drop to Lowest Level Since Great Recession. Image courtesy of Stuart Miles \/ FreeDigitalPhotos.net<\/p><\/div>\n

Over the last 12 months, completed foreclosures have fallen to the lowest level since the Great Recession began in 2007, according to CoreLogic\u2019s April National Foreclosure Report, which shows completed foreclosures fell to 599,000 nationwide.<\/p>\n

Completed foreclosures \u2013 the total number of homes actually lost to foreclosure \u2013 was 46,000 nationally in April, down 18 percent from April 2013. Foreclosures still remain elevated by historical standards. Before the housing decline in 2007, completed foreclosures averaged 21,000 per month between 2000 and 2006.<\/p>\n

Since September 2008, there has been about 5 million completed foreclosures nationwide.<\/p>\n

In April, about 694,000 homes were still in some stage of foreclosure, known as foreclosure inventory. Inventory levels are down 35 percent year-over-year. The foreclosure inventory in April represented 1.8 percent of all homes with a mortgage, according to CoreLogic\u2019s report.<\/p>\n

At the current pace, \u201cit will take 14 months to move all of the foreclosed inventory through the pipeline,\u201d says Sam Khater, deputy chief economist for CoreLogic.<\/p>\n

\u201cWe have now registered two and a half years of continuous decreases in the number of home owners who are in some stage of the foreclosure process,\u201d adds Anand Nallathambi, president and CEO of CoreLogic. \u201cThis consistent decline means fewer Americans are experiencing the distress of delinquency and default.\u201d<\/p>\n

Every state \u2013 except for New York and the District of Columbia \u2013 reported double-digit year-over-year decreases in foreclosures, according to CoreLogic.<\/p>\n

The following five states have the highest foreclosure inventory (as percentage of all mortgaged homes):<\/p>\n