Temecula Real Estate News

by Monica Atherton on April 3, 2012

in Latest News

Foreclosure rates down in most markets

CoreLogic data shows improvement in 61 of 100 largest metros

By Inman News
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Foreclosure rates are lower than they were a year ago in 61 of the nation’s 100 largest housing markets, according to a new analysis of loan data by CoreLogic.

CoreLogic counted 1.4 million homes in the foreclosure process during February, down 7.6 percent from a year ago.

With 65,000 homes completing the foreclosure process in February, loan servicers were completing foreclosures at an annual rate of 670,000 per year. That compares to 862,000 foreclosures actually completed in the preceding 12 months.

The percentage of borrowers behind on their mortgage payments by 90 or more days fell to 7.3 percent in February, down from 7.8 percent at the same time a year ago but up slightly from the 7.2 percent seen in January 2012.

As we have been noticing, the number of bank owned properties continues to decline and by the sound of this article notices of defaults are falling as well. Could this be another sign of recover? Time will tell.

Posted on Temecula Real Estate-Temecula Homes For Sale

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Post by Monica Atherton

I am a Temecula Realtor specializing in Temecula Wine Country, Bear Creek, Greer Ranch and other communities of Temecula and Murrieta. I am committed to helping my clients achieve their dreams. Over the last 16 years I have been serving people with their real estate needs whether it was counseling buyers in finding their dream homes, moving up, sizing down or helping them through tough economic times. I will advise you on the important factors to consider when you are looking for that perfect place or what options you have if you are faced with foreclosure.

Monica has written 234 articles.

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