Foreclosure Sales Drop To Lowest Level Since 2007

Dated: April 14 2014

Views: 392

February’s foreclosure sales and starts dropped significantly from January’s totals to a level not seen since 2007. There were only 36,000 foreclosure sales in February, down 24% from 48,000 in January.

In addition, there were approximately 69,000 foreclosure starts in February, down from 75,000 in January, according to data released by HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors. Those figures marked the lowest since the initiative began recording data in 2007.

Delinquencies of 60 days or more were under 2 million forthe second straight month. That marks a decrease of over 2 million since December 2009.
February’s loan modifications were down slightly from January, dropping from 44,000 to 42,0000. This total includes modifications completed under both proprietary programs and the government’s Home Affordable Modification Program. Read More Here...
cb
Blog author image

Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 30 years in the industry, Mark has gained experience in ....

Latest Blog Posts

What Happens After Foreclosure Moratorium Ends

Since early 2020, banks across the U.S. have been banned from foreclosing on homes as part of the federal government’s efforts to assist families feeling economic pain caused by the pandemic. On

Read More

4 To Dos For July To Save Money Get Ready For Fall

When it's hot outside, smart homeowners focus their energies inside on these four tasks.You know: Like taking advantage of your nice, cool basement.#1 Organize the BasementThe two most common types

Read More

5 Red Flags To Spot In A Home Inspection Report

There is a certain leap of faith that all buyers take when they make an offer on a new home. If the market is especially competitive, it’s not uncommon for prospective buyers to see a property

Read More

New Aid Coming For Mortgage Borrowers At Risk Of Foreclosure

Borrowers who fell behind on their mortgages during the Covid-19 pandemic and continue to face economic hardship will get help from a Biden administration program announced on Friday, a bid to

Read More