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DS News Webcast: Wednesday 04/15/2015

Foreclosure completions have declined by two-thirds since reaching their peak in September 2010, and HUD awards 36 million dollars in housing counseling grants to prevent foreclosures — ahead on Wednesday's news wrap.

In a sign that housing continues to move toward stability, February's total of 39 thousand completed foreclosures nationwide represented a decline of 15 point 7 percent from the previous February – and a decline of 67 percent from their peak reached in September 2010, according to CoreLogic's February 2015 National Foreclosure Report released Tuesday. February's total of completed foreclosures was still nearly double the pre-recession monthly average of 21 thousand, although that number has been steadily declining for months.

Foreclosure inventory totaled 553 thousand in February, about 1 point 4 percent of all residential mortgages nationwide, the lowest total since March 2008 and a year-over-year decline of 27 percent 3 percent from February 2014. A year ago in February, there were 761 thousand homes in some state of foreclosure, about 1 point 9 percent of all residential mortgages. The number of seriously delinquent mortgages nationwide in February 2015 totaled 1 point 5 million, or 4 percent of mortgages – a drop of 19 point 3 percent from a year earlier and the lowest total since June 2008.

The U.S. Department of Housing and Urban Development announced on Tuesday the awarding of approximately 36 million dollars to national, regional, and local organizations to prevent foreclosures and help families and individuals with their housing needs. HUD estimates that the money they provide in grants, combined with other funds they plan to leverage, will assist more than a million and a half individuals and families with finding housing, making more informed choices with regards to housing, and staying in their current homes.

You can check out these stories—and all the latest happenings in the industry—right here on our site. Thanks for joining us. We’ll see you again on Thursday. Until then, stay with DSNews.com for all of your most relevant default servicing news.

About Author: Francesca Shirk

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