Tag Archives: Foreclosure Starts

The foreclosure process began for 36,863 U.S. homes during July 2016, and this number is the lowest level seen for foreclosure starts in 11 years, specifically May of 2005.

Foreclosure starts have always been a volatile metric, having experienced many ups and downs over the last few years. But in April, they fell to levels not seen for a long, long time.

New foreclosure starts are at their lowest level since 2005, three years before the crisis.

While foreclosure-related metrics are down, which default-related categories experienced seasonal increases in November?

Helping families avoid foreclosure is one of the stated goals of Fannie Mae and Freddie Mac since the conservatorships began more than seven years ago.

The news was all good on the delinquency front for October 2015 as all related metrics continued steep declines.

The current data for foreclosures and mortgage delinquencies shows significant improvement compared to data from five years ago, the universally accepted peak of the mortgage crisis, according to HOPE NOW, a private sector alliance of mortgage servicers, investors, mortgage insurers, and non-profit counselors.

Foreclosure starts and foreclosure completions were also down over the year, according to the OCC. Servicers initiated 70,728 foreclosures during Q2, which was down from 11.3 percent in the same quarter in 2014. Completed foreclosures during Q2 totaled 37,725, which was a drop of 23.4 percent from a year earlier

Amid all the good news for housing lately, foreclosure starts were up by 7 percent in August—driven by a rise in the amount of repeat foreclosures, according to the August 2015 Mortgage Monitor released by Black Knight Financial Services on ...

The delinquency rate, which includes residential homes that are 30 days or more overdue on mortgage payments but not in foreclosure, tumbled by 18 percent year-over-year in August down to 4.83 percent, the largest over-the-year decline since May 2011, according to Black Knight.