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Tag Archives: Seriously Delinquent Mortgages

Non-Profit Awards $44.8 Million Through Foreclosure Mitigation Counseling Program

While foreclosure numbers have declined significantly since the peak years of 2010 and 2011, a recent uptick in foreclosure starts demonstrates the need still exists for loss mitigation programs such as the NFMC to help families and individuals stay in their homes when their mortgages become delinquent. The current demand for NFMC grant funds ($87 million) was nearly double the amount of $44.8 million that was awarded.

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Foreclosure Inventory Drops By One-Third Year-Over-Year

Completed foreclosures have totaled approximately 5.5 million nationwide since the height of the financial crisis in September 2008 and have totaled approximately 7 million since homeownership peaked in the second quarter of 2004. January's foreclosure rate of 1.4 percent, meaning 1.4 percent of all residential homes with a mortgage nationwide are in some state of foreclosure, was the lowest level reported since March 2008. Year-over-year, the foreclosure rate was down 0.6 percentage points, from 2.0 percent reported in January 2014.

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Foreclosures Continue Steady Nationwide Decline in December

Foreclosures in the United States have been steadily declining for months nearly every way the numbers are broken down, and December was no exception, according to CoreLogic's December 2014 National Foreclosure Report released Tuesday. Foreclosure inventory nationwide dropped in December down to 552,000 from 840,000 in December 2013, a decline of 34.3 percent. As of the end of December 2014, approximately 1.4 percent of all homes with a mortgage were in some state of foreclosure – a decline from 2.1 percent from the previous December. The current foreclosure rate of 1.4 percent is the lowest level since March 2008.

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Foreclosure Rate Falls to Lowest Level Since ’08

About 1.5 percent of all homes with a mortgage in the United States were in some state of foreclosure in November 2014, the lowest foreclosure rate since March 2008, according to CoreLogic's November 2014 National Foreclosure Report. Foreclosure inventory, which includes homes in any state of foreclosure, plummeted year-over-year in November, falling from 880,000 in November 2013 to 567,000 in November 2014 – a decline of 35.5 percent. November represented the 37th consecutive month in which foreclosure inventory declined year-over-year and the 26th straight month in which the nation's foreclosure inventory saw a double-digit percentage decline.

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