Foreclosures Down to 69,000 in March, Inventory Also Down

“Year-over-year, the number of completed foreclosures decreased about 19 percent to 69,000 in March 2012 compared to 85,000 in March 2011, according to CoreLogic’s National Foreclosure Report for March. Month-over-month, with the number of completed foreclosures in February 2012 at 66,000, foreclosures increased about 4.5 percent in March 2012. On a quarterly basis, foreclosures decreased …

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Industry’s Shadow Inventory of Distressed Homes Shrinks

Housing has become an industry afraid of its shadows. That shadow inventory of repossessed and soon-to-be repossessed homes has professionals from every side of the business worried about the impact such a sizeable volume of distress will have on property values and overall market fundamentals. But according to Standard & Poor’s (S&P), the obscurity hiding …

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Mortgage delinquency rates fall

The delinquency rate for mortgage loans on single-family residential properties dropped to 8.22 percent at the end of 2010, the Mortgage Bankers Association (MBA) reported Thursday. That’s down about 10 percent from the rate reported by the trade group three months earlier and is its lowest mortgage delinquency reading since the fourth quarter of 2008. …

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