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Foreclosures are tale of 2 legal systems

Nonjudicial foreclosure states see most improvement

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Trends in serious delinquencies and foreclosures continue to be a tale of two legal systems.According to loan data aggregator CoreLogic, in the 24 states where courts handle the foreclosure process, 13 saw foreclosure inventory rates increase in March when compared to a year ago. In contrast, the percentage of homes in the foreclosure process during March posted annual increases in only three of 26 nonjudicial foreclosure states.The picture was much the same for serious delinquencies of 90 days or more -- 15 of 24 judicial foreclosure states saw an annual increase in serious delinquency rates during March, compared with just five of 26 nonjudicial foreclosure states. "Nonjudicial foreclosure markets like Nevada, Arizona and California are experiencing significant improvements in their shares of delinquent borrowers," said CoreLogic Chief Economist Mark Fleming in a statement. "Some judicial foreclosure states are also improving, like Florida, but not to the extent of non...