New foreclosures reach 18-year low

mortgagesBy Jann Swanson | Mortgage News Daily

The national foreclosure scenario continues to improve. CoreLogic’s June National Foreclosure Report shows the foreclosure inventory declined by 25.9 percent from the previous June and completed foreclosures nationwide decreased year over year from 40,000 in June 2015 to 38,000 in June 2016. That was a year-over-year drop of 4.9 percent and a decrease of 67.5 percent from the peak of 117,835 completed foreclosures in September 2010.

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