CoreLogic: 66,000 Foreclosures Last Month

Posted by Orb Staff on May 30, 2012 No Comments
Categories : Mortgage Servicing

11663_foreclosedhouse4 CoreLogic: 66,000 Foreclosures Last Month Last month, there were 66,000 completed foreclosures in the U.S., virtually unchanged from March and down from 78,000 in April 2011, according to new data from Santa Ana, Calif.-based CoreLogic.

CoreLogic reports that approximately 1.4 million homes – or 3.4% of all homes with a mortgage – were in the national foreclosure inventory as of April, unchanged from March and lower than the 1.5 million (3.5%) in April 2011. Since the start of the financial crisis in September 2008, CoreLogic reports there have been approximately 3.6 million completed foreclosures across the country.

‘There were more than 830,000 completed foreclosures over the past year or, in other words, one completed foreclosure for every 622 mortgaged homes,’ says Mark Fleming, chief economist for CoreLogic. ‘Nonjudicial foreclosure markets, like Nevada, Arizona and California, completed two and a half times as many foreclosures over the past year as judicial foreclosure states.’

The five states with the highest number of completed foreclosures for the 12 months ending in April were California (142,000), Florida (92,000), Michigan (60,000), Texas (58,000) and Georgia (57,000). These five states account for 48.8% of all completed foreclosures nationally.

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