Fore­clo­sure Fil­ings In­crease 5% in May

National Mortgage News - - Servicing - By brad finkel­stein

the num­ber of homes with a fore­clo­sure fil­ing in­creased 5% in May over the pre­vi­ous month, as prop­er­ties en­ter­ing the process also in­creased by 5%.

There were 81,495 prop­er­ties that had a fore­clo­sure fil­ing at the end of the month, com­pared with 77,049 in April, ac­cord­ing to At­tom Data So­lu­tions. Fil­ings were down 19% com- pared with May 2016 and there has been 20 con­sec­u­tive months with a year-over-year de­cline.

Dur­ing May, 35,787 prop­er­ties were put into the fore­clo­sure process, which was down 15% from May 2016, while 27,086 prop­er­ties ended the process.

Na­tion­wide, one in ev­ery 1,636 homes had a fore­clo­sure fil­ing of some type, whether it was a de­fault no­tice, sched­uled auc­tion or bank re­pos­ses­sion.

The states with the high­est fore­clo­sure rates were New Jersey ( one in ev­ery 515), Delaware ( one in ev­ery 753); Mary­land ( one in ev­ery 1,006), Illi­nois ( one in ev­ery 1,057) and Ok­la­homa ( one in ev­ery 1,081).

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