Delinquencies Up in Some Oil Patch States

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Posted To: MND NewsWire

Foreclosures in October 2016 were down by a quarter compared to the previous October and the foreclosure inventory shrank by nearly one third. CoreLogic said today that there were 30,000 completed foreclosures during the month compared to 40,000 one year earlier, a 24.9 percent reduction. CoreLogic has revised its report on September foreclosures from the previously reported 34,000 to 41,000. Thus, the October number represents a 27.5 percent month-over-month decrease. At the peak of mortgage distress, foreclosures were completed on 118,287 homes in a single month (September 2010). The most recent count represents a decrease of 74.7 percent from that peak. Between 2000 and 2006, before the decline in the housing market, completed foreclosures averaged 22,000 per month and there have been approximately…(read more)

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