Markets & Economy

RealtyTrac: 12 of 20 major metros see decline in foreclosures

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The volume of foreclosure filings and starts during the first half of 2015 was down from the previous six months and from last year. According to RealtyTrac’s midyear foreclosure report, there were a total of 597,589 U.S. properties with foreclosure filings during the first half of the year -- down 13 percent from the previous half and 3 percent from the same time last year. A total of 304,439 properties started the foreclosure process during the first half, representing a 10-year low and a 4 percent drop from a year ago. Foreclosure starts in the first half of the year were at or below their precrisis levels of 2006 in 19 states, including California, Florida, Arizona, Georgia and Illinois. “Loans originated in the last five years continue to perform better than historic norms,” said Daren Blomquist, vice president at RealtyTrac, citing tighter lending standards and more cautious borrower behavior as reasons for this performance. As foreclosure starts decline...