Can we say the national foreclosure crisis is over?

From HousingWire:

Foreclosures, serious delinquencies nearing decade low

The number of homes in some stage of foreclosure and the number of seriously delinquent mortgages continued to decline in May, falling to the lowest level since October 2007, according to the latest data from CoreLogic.

CoreLogic’s May 2016 National Foreclosure Report shows the national foreclosure inventory, which is the total number of homes at some stage of the foreclosure process and completed foreclosures, hovers around 390,000 homes.

In April, the national foreclosure inventory was roughly 406,000 homes, and in March, that figure was 427,000 homes.

According CoreLogic’s report, May’s foreclosure inventory hit the lowest level in nearly nine years.

CoreLogic’s report also showed that in May, the foreclosure inventory declined by 24.5% and completed foreclosures declined by 6.9% compared with May 2015.

The number of completed foreclosures nationwide decreased year over year from 41,000 in May 2015 to 38,000 in May 2016, which represents a decline of 67.9% from the peak of 117,813 in September 2010.

CoreLogic’s report also showed the sustained improvement in the number of mortgages in serious delinquency, defined as loans that are 90 days or more past due, and loans in foreclosure or Real Estate Owned.

According to CoreLogic’s report, the number of mortgages in serious delinquency fell by 21.6% from May 2015 to May 2016, with 1.1 million mortgages, or 2.8% of all mortgages, in this category.

The May 2016 serious delinquency rate is also the lowest in nearly nine years, reaching the lowest level since October 2007.

This entry was posted in Foreclosures, Housing Recovery, National Real Estate. Bookmark the permalink.

43 Responses to Can we say the national foreclosure crisis is over?

  1. grim says:

    NJ still at the top but it appears that we’re resolving foreclosures significantly faster than #2, NY.

    Foreclosure Inventory Rate
    New Jersey – 3.6% (Down 27.5% YOY)
    New York – 3.2% (Down 17.9% YOY)

    Which means in about a year, NY might take the lead over NJ.

    Serious Delinquency Rate
    New Jersey – 6.7% (Down 22.6% YOY)
    New York – 5.7% (Down 17.9% YOY)
    Florida – 4.4% (Down 33.4% YOY)
    Mississippi – 4.3% (Down 13.9% YOY)
    Maine – 4.2% (Down 20.7% YOY)

    On the MSA/CSBA Level:

    New York – Jersey City – White Plains NY-NJ (NY Metro Area)
    Foreclosure Inventory – 3.0% (Down 23.3% YOY)
    Serious Delinquency Rate – 5.5% (Down 21.0% YOY)

    What is clear, by looking at the foreclosure map of the US, is that the foreclosure crisis now exists only in the Northeast, which are legacy Judicial Foreclosure states. Most every single Non-Judicial Foreclosure state has already recovered.

    Which confirms, unequivocally, what we’ve all been saying for years. Foreclosure is the solution, not the problem, and by delaying it, you are not providing any benefit to the local economy, only prolonging the crisis.

  2. GOP's broken (the good one) says:

    Gretchen Carlson, former Fox News anchor, speaks publicly about sexual harassment lawsuit

    “I think you and I should have had a sexual relationship a long time ago, and then you’d be good and better and I’d be good and better,” Mr. Ailes told her, according to the lawsuit.

  3. GOP's broken (the good one) says:


    Where are we all going and what do we do when we get there?
    Is the journey existence or preparation for existence ?

  4. grim says:


    What would Jose do?

  5. D-FENS says:

    Tell 4 finger Jose to unload the gun before he cleans it next time.

  6. grim says:

    Do they have steroids in heaven?

  7. D-FENS says:

    Anybody else have kids parking their cars running around their neighborhood trying to catch a pokemon last night?

  8. grim says:

    Yeah all over.

    I’ll drive you around for 40 bucks an hour cash.

    Wifi in the car and multiple USB ports.

    Will also provide a bodyguard for late night runs or bad neighborhoods, another 30 an hour.

    Second pax only 15 more an hour.

    I do a special, $100 an hour, bodyguard, 4 pax, luxury suv, snacks and drinks – and we will meet with your mom and dad when we pick you up. 3 hour minimum. This is hot with the Franklin lakes set – I’ve taken to subcontracting uberxl drivers.

  9. grim says:

    (That is a joke if you didn’t realize it by the time you read this)

  10. Juice Box says:

    I’m doing it while driving, caught 6 Pokémon on the way in this morning. Insurance rates are going to skyrocket.

  11. Juice Box digging his own grave says:

    If you kids do Minecraft show them this, mouse over the videos.

    You will need the Occipital Structure Sensor with bracket for iPad Air 2

  12. Comrade Nom Deplume, the Deplumiest. says:

    I’m glad I live where there are few kids with cars. Or at least they are spread out.

  13. grim says:

    I hear there are tons of Rare Pokemon in P-town’s 4th ward.

  14. grim says:

    Or did I mix that up with heroin?

  15. Comrade Nom Deplume, the Deplumiest. says:

    Interesting timing.

    The FBI interviewed Clinton and then immediately released their findings. At the time, I found it curious–it didn’t fit the pattern of gathering, analysis and conclusion. But aside from the argument that the Dems would rather have this buttoned up sooner than later, I thought little of it.

    What I failed to consider was the ongoing case by Judicial Watch. I didn’t even consider that it would be a factor in the FBI case. But Clintons team did. You see, Judicial Watch wanted to depose Clinton but hadn’t yet. Now that the FBI/DoJ investigation is closed, Clintons lawyers are using that to argue that there’s no case so Judicial Watch shouldn’t be allowed to depose Clinton.

    Judicial watch is partisan, no question. I’ve known of them from their inception and for a while, they were something of a joke but have become a semi-effective watchdog since Klayman departed. But with the FBI investigating, they had cover from a charge that this was a partisan fishing expedition. When FBI quickly wrapped mere days after interviewing her, they took away that cover. And now her lawyers are renewing their attack on Judicial Watch.

    If you were looking for circumstantial evidence of collusion, this is more telling than a chat on an airplane.

  16. grim says:

    Here is a fun game to play.

    Load up Google Street View, punch in Carroll Ave Paterson. Cruise around trying to find all the drug dealers.

    It’s better than Pokemon.

  17. Juice Box digging his own grave says:

    re: # 15 – Nom, if you give classified info to your Attorney to delete is that a crime?

    AG Lynch refused to say giving classified information to people without proper clearances is wrong never mind illegal.

  18. Juice Box digging his own grave says:
  19. Hillary's Cankles are ground zero for Zika virus says:

    Pokemon proves that we are all sheep.

  20. Hillary's Cankles are ground zero for Zika virus says:

    “WOW – NY Times agrees with Trump… Is this a first?”

    It depends on how much he advertises with them. I’ve never had faith in partisan rags, but what the hit piece they ran (author lived in Montclair btw) during Montclair’s last election unequivocally proved the rag worthless.

  21. Supposedly a Kentucky saying:

    “You can’t bring your crappy self into your bright new future.”

  22. D-FENS says:

    Wow…chilling decision from the 9th Circuit

    9th Circuit: It’s a federal crime to visit a website after being told not to visit it

    The U.S. Court of Appeals for the 9th Circuit has handed down a very important decision on the Computer Fraud and Abuse Act, Facebook v. Vachani, which I flagged just last week. For those of us worried about broad readings of the Computer Fraud and Abuse Act, the decision is quite troubling. Its reasoning appears to be very broad. If I’m reading it correctly, it says that if you tell people not to visit your website, and they do it anyway knowing you disapprove, they’re committing a federal crime of accessing your computer without authorization.

  23. grim says:

    No one is permitted to visit this website.

    Nom – I need you to sue some people for me.

  24. 30 year realtor says:

    Carroll Street is mostly drug addicted hookers. Drug dealers on surrounding streets.

    Recently had 2 REO properties on Carroll Street. Pulled up in front of one of the houses, got out of the car and before I could take 2 steps I was solicited by a a hooker.

    They don’t hunt Pokemon there. They hunt copper in vacant houses.

  25. [24] 30 year – Did you throw your pokeballs at her?

  26. D-FENS says:

    Wonder why the first guy is climbing on the second guy’s shoulders to get into the window of that house,-74.1618792,3a,41.5y,123.84h,76.19t/data=!3m6!1e1!3m4!1skmPmegcJ3u4UCN0z-t7pAQ!2e0!7i13312!8i6656

  27. grim says:

    I just pissed my pants, I thought you were joking.

    You get 2,500 pokepoints for that one.

    Gotta catch em all!

  28. Hillary's Cankles are ground zero for Zika virus says:

    pokeballs? Isn’t that a Hawaiian delicacy?

  29. D-FENS says:

    Maybe they’re on some kind of treasure hunt. Or maybe the first guy is helping the second guy because he forgot his keys.

    It’s not what I think it is right?

  30. While they’re burying cops in Dallas, Obama is meeting with his front group.

  31. Anon E. Moose, Second Coming of JJ says:

    D-FENS [26];

    That unfortunate person must have locked himself out of his residence. How racist of you to think anything sinister could be going on. [TIC]

    Anyone notice somewhere between Ellison and Pearl Sts. a cop car starts noticeably tailing the Google car? You have to swing around to a rear view for each shot, but its definitely there. I wonder if they got an escort through the entire city.

  32. Not Anon says:

    Is not what you think. Take a look at 16th & Carroll do a 360 – House on Fire.

  33. Juice Box digging his own grave says:

    Grim –

    BALTIMORE (WJZ) — A man who identifies himself on Craigslist as a Pokémon master named Mike B. is offering paid rides around Baltimore for those Pokemon GO players who want to make the game a little easier for themselves.

    1. GET ALL OF THE STEPS WITH NONE OF THE SWEAT – We will drive around at egg incubation speed so that you still get credit towards hatching your eggs.
    2. GO ANYWHERE – You have a choice of traveling where you want in the Baltimore City area or take one of my pre-constructed routes.*
    3. NO HASSLE – I can pick you up and drop you off at your house. Or we can meet in Hampden.
    4. GET VARIETY – Explore all of Baltimore to find different kinds of Pokemon.

    Feel free to contact me if you want to know more info. I accept both cash and Venmo.”

  34. Grim – I guess Razz Berry is also known as pokerufies?

    “Once you reach higher levels, you’ll also begin to get Great Balls and Ultra Balls from PokeStops, although you’ll want to reserve those for harder to catch Pokemon. If you don’t want to waste PokeBalls on hard to catch Pokemon (the ones with red or yellow “catch circles), be sure to feed them a Razz Berry first as it makes catching them much easier.

    I just pissed my pants, I thought you were joking.

    You get 2,500 pokepoints for that one.

    Gotta catch em all!

  35. Hillary's Cankles are ground zero for Zika virus says:

    I’ll put my ultraballs in yer mouth.

  36. D-FENS says:

    So they’re heroes? The fire looks to be a block away.

    Not Anon says:
    July 13, 2016 at 4:28 pm
    Is not what you think. Take a look at 16th & Carroll do a 360 – House on Fire.

  37. Captain Nom Deplume, Besotted Rummy says:

    [30] expat,

    I heard that and thought “NFW is he that tone deaf.”

    Nope, he’s that tone deaf. Or worse, he isn’t.

    I’ve said it before, he’s not my president. And that was not because of anything I believe. He honestly doesn’t want the job of being my president.

  38. [37] Nom – I agree. Nearly eight years ago I told my wife, “This guy is an absolute expert in climbing the ladder and getting the next job, without having actually done anything in the previous (except use it as a springboard). The problem is he’s now at the top job and has no experience actually leading, he only has experience getting elected.”

  39. I think the real problem that the majority of media and pols on both sides of the aisle have with Trump has nothing to do with what Trump says or does. Rather, they are just appalled that someone can just multi-jump checker-like right to the cusp of the top of politics without walking on egg shells and building and maintaining relationships destined to end in back-stabbing when a rung on the ladder looks attainable. Moreover, I think they are just completely mortified that someone can get this far with something as trite and inconsequential as … votes. If Trump succeeds it just makes their whole game, nee, their world, a sham, and that includes both the elected and the media.

  40. ^^^ and the closeted money that pays for both.

  41. saint of says:

    Celebrate St. Patrick’s Day with … – The Washington Post

  42. Miód manuka says:


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    I added to favourite websites.
    What do You think about Brexit? Are You proponent or oponent?


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