Despite Decreases: Foreclosures and mortgage delinquencies may be declining, but that doesn’t mean the industry should let its guard down. In the Obama Administration’s latest housingscorecard, which provides an overview of the housing market based on private and public sector data, officials continued to warn of a “fragile” recovery despite improvements.
Recently, Lender Processing Services reporteddelinquencies have fallen 43 percent from their 2010 peak, while RealtyTrac found foreclosure starts decreased 45 percent year-over-year in June.
“Foreclosure starts and completions are down significantly from one year ago; and since January 2012, rising home values have lifted 2.4 million homeowners back above water. That said, we remain cautious because although mortgage delinquencies are trending down, they still remain quite high compared to historic norms,” said Kurt Usowski, assistant secretary for economic affairs at HUD. Learn more ....
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