According to the September 2016 National Foreclosure Report, the number of completed foreclosures increased monthly for September 2016, but total foreclosure inventory actually decreased.
The national foreclosure inventory decreased by 31.1% annually in September and by 3.1% monthly.
Other Stats
+ Completed foreclosures decreased 7% from 2015.
+ Completed foreclosures increased 5.2% from August’s 34,000 to 36,000 in September.
+ Completed foreclosures have fallen by a total of more than 100,000 homes during the 12 months prior to September 2016.
+ According to the report, 2017 should see prices, performance and production all improve.
+ The national foreclosure inventory remains at 0.9% of all homes with a mortgage, down from 1.3% in 2015.
+ Homes in serious delinquency, or homes that are 90 days or more past due, decreased 24.8% from 2015 to 1 million mortgages, which is 2.6% of all homes.
+ This is the lowest level since August 2007.
+ According to data released at the end of October by Black Knight, the rate of loans in active foreclosure is lower right now than at any point in the last nine years.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.