Foreclosures are continuing their exodus from the housing market, with foreclosure inventory falling 30 percent and foreclosure completions falling 40 percent in 2016, according to CoreLogic’s. In the month of April, 37,000 U.S. home foreclosures were completed, down 0.3% month over month and down 15.8% from a total of 43,000 in April 2015.
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Completed foreclosures, which are an indication of the actual number of homes lost to foreclosure, dropped by nearly 15 percent year-over-year in June from 50,000 to 43,000. The number of completed foreclosures nationwide in June 2015 represented a 63.3 percent decline from their peak of 117,000 reached in September 2010, according to CoreLogic.
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There were about 37,000 completed foreclosures in October – a decrease of 12.3% compared with about 43,000 in September and a decrease of 27.1% compared with October 2014, according to CoreLogic. The.
CoreLogic’s january 2015 national foreclosure Report reveals U.S. foreclosure inventory declined 33.2 percent from January 2014, and completed foreclosures declined 22.5 percent. The report also shows there were 43,000 completed foreclosures nationwide in January 2015, down from 55,000 in January 2014 and representing a decrease of 63 percent.
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CoreLogic also reports that the number of mortgages in serious delinquency (defined as 90 days or more past due, including those loans in foreclosure or REO) declined by 23.3 percent from June 2014 to June 2015, with 1.3 million mortgages, or 3.5 percent, falling into this category.
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Source: CoreLogic National Foreclosure Reports for June 2016, June 2015, and June 2014. U.S. Residential Mortgage. foreclosures take years to complete. In June 2016, CoreLogic
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On a month-over-month basis, completed foreclosures decreased by 12.3% to 37,000 from the 43,000 reported in September 2015. As a basis of comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.