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Orlando foreclosure inventory declines in April

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ALEXANDER RATHS
While Orlando’s foreclosure inventory declined in April, it’s still higher than the… more

Orlando’s foreclosure inventory for April was 2.8 percent, a 2.6 percentage point decline from the year-ago period and there were 14,037 completed foreclosures in the 12 months ending April 2015, according to the latest CoreLogic foreclosure report.

CoreLogic (NYSE: CLGX) reports completed foreclosures are an indication of the total number of homes actually lost to foreclosure.
In addition, the number of mortgages in serious delinquency — defined as 90 days or more past due, including those loans in foreclosure or real estate owned — declined 3.5 percentage points in April to 6.4 percent.

The national foreclosure inventory in April included 521,000 homes, or 1.4 percent, of all homes with a mortgage — down from 694,000 homes, or 1.8 percent, this time last year.

“Despite a slow and steady improvement in most housing market fundamentals, too many families remain in default of their mortgage obligations,” said Anand Nallathambi, president and CEO of CoreLogic, in a prepared statement. “The percent of homeowners with a mortgage that have missed three or more monthly payments or are in foreclosure proceedings dropped to 3.6 percent in our April data; while well below the record peak of nearly 9 percent and the lowest in more than seven years, it remains about double the pre-2007 rate.”

Other highlights from the report include:

  • The five states with the highest number of completed foreclosures for the 12 months ending in April 2015 were: Florida (106,000), Michigan (49,000), Texas (33,000), Ohio (28,000) and Georgia (27,000). These five states accounted for almost half of all completed foreclosures nationally.
  • Four states and the District of Columbia had the lowest number of completed foreclosures for the 12 months ending in April 2015: South Dakota (20), the District of Columbia (95), North Dakota (318), West Virginia (475) and Wyoming (498).
  • On a month-over-month basis, the foreclosure inventory was down by 2.2 percent from March 2015. The April 2015 foreclosure rate of 1.4 percent is back to early 2008 levels.
  • Four states and the District of Columbia had the highest foreclosure inventory as a percentage of all mortgaged homes: New Jersey (5.1 percent), New York (3.8 percent), Florida (3.1 percent), Hawaii (2.6 percent) and the District of Columbia (2.5 percent).
  • The five states with the lowest foreclosure inventory as a percentage of all mortgaged homes were: Alaska (0.3 percent), Nebraska (0.4 percent), North Dakota (0.4 percent), Colorado (0.4 percent) and Minnesota (0.5 percent).
Grande Realty Group

PATTY VISCONTI
Owner/Realtor

Phone- 407-234-8426

Fax- 407-641-8627

patty@grgorlando.com

Erin Hudson
Broker

Phone- 407-694-3489

Fax- 407-641-8627

erin@grgorlando.com

Patty Visconti - Grande Realty Group

PATTY VISCONTI
Owner/Realtor

Phone- 407-234-8426

Fax- 407-641-8627

patty@grgorlando.com

Erin Hudson - Grande Realty Group

Erin Hudson
Broker

Phone- 407-694-3489

Fax- 407-641-8627

erin@grgorlando.com

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