Foreclosure Starts at 12-Year Low

Posted To: MND NewsWire

The national foreclosure inventory rate, according to Black Knight Financial Services, fell below 1 percent in October for the first time since July 2007. That rate, which measures the number of mortgaged homes in the process of foreclosure, dropped by 0.95 percent from September and was down 30.24 percent compared to its level in October 2015. Black Knight, in its "first look" at October mortgage performance data, said there are now 504,000 homes in the inventory, a decline of 5,000 in a month and 217,000 year-over-year. That wasn't the only good news in the report. Foreclosure starts declined by 8.3 percent from September and were 22.81 percent lower than in October 2015. At 56,500, the number of October starts was the lowest since January 2005. Delinquencies were up by what Black Knight...(read more)

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