Seven Year Low in Foreclosures
The number of U.S. homes set on the path to foreclosure slid to a seven-year low
in the third quarter, reflecting a gradually improving housing market and fewer
homeowners falling behind on mortgage payments.
Lenders initiated foreclosure action on 174,366 homes in the July-September period, the lowest level since the second quarter of 2006, foreclosure listing firm RealtyTrac said Thursday.
Foreclosure starts declined 13 percent from the previous quarter and were down 39 percent from the third quarter last year, the firm said. Foreclosures peaked in 2010 at 1.05 million units and have been declining ever since.
The national slowdown in foreclosure starts comes as the U.S. housing market continues to recover from a deep slump, a rebound driven by rising home prices, steady job growth and fewer troubled loans dating back to the housing bubble days. Fewer homes entering the foreclosure pipeline should translate into fewer properties that eventually end up lost to foreclosure.
I hoped you like the article and found it informative. Remember, if you need assistance, do not hesitate on giving me a call or any member of the team at 314-744-7806. Check us out on the website by clicking on the link below:
Call The Money Man
Lenders initiated foreclosure action on 174,366 homes in the July-September period, the lowest level since the second quarter of 2006, foreclosure listing firm RealtyTrac said Thursday.
Foreclosure starts declined 13 percent from the previous quarter and were down 39 percent from the third quarter last year, the firm said. Foreclosures peaked in 2010 at 1.05 million units and have been declining ever since.
The national slowdown in foreclosure starts comes as the U.S. housing market continues to recover from a deep slump, a rebound driven by rising home prices, steady job growth and fewer troubled loans dating back to the housing bubble days. Fewer homes entering the foreclosure pipeline should translate into fewer properties that eventually end up lost to foreclosure.
I hoped you like the article and found it informative. Remember, if you need assistance, do not hesitate on giving me a call or any member of the team at 314-744-7806. Check us out on the website by clicking on the link below:
Call The Money Man
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