Foreclosure Rates Drop From Last Year

Foreclosure rates dropped in January to 61,000, down 14,000 from last year according to CoreLogic. Last January there were 1.5 million United States foreclosures in process. There are roughly 1.2 million foreclosures currently in process in the United States, 3 million less than the previous year. Chief economist at CoreLogic, Mark Fleming said, “the improvement is widespread as only six states and 13 of the largest 100 metro areas had an increase in the foreclosure rate year over year.” CoreLogic also stated that U.S mortgages experiencing foreclosure is less than 3%. More here