Thanks to a strong job market, more homeowners are able to stay current on their mortgage loan. Property data analyst CoreLogic reports that foreclosures and seriously delinquent mortgages are on the decline in nearly every state.
Article image credited to Nicoali Berntsen / Unsplash.com
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Mortgage delinquencies and foreclosures increased last month, according to a first look at mortgage market data recently released by the Data & Analytics division of Black Knight Financial Inc., a Fidelity National Financial company.
The volume of foreclosure filings reported in May was 16 percent higher than a year ago, according to RealtyTrac, and default notices, schedule auctions or bank repossessions (REOs) were reported on 126,868 U.S. properties, marking a 19-month high for filing volume.
The number of owner-vacated “zombie” foreclosures at the end of the second quarter stood at 127,021, representing a 10 percent decline in volume when compared with the same quarter last year.