Apr 23, 2013
Foreclosure Inventory Increase in 1st quarter 2013
After finalizing the National Mortgage Service settlement almost a year ago, lenders have been working through the backlog of delinquent mortgages. In its first national foreclosure inventory analysis, RealtyTrac reported 1.5 million properties were actively in the foreclosure or REO process in the 1st quarter of 2013. Up 9% from last year.
Florida was among the States experiencing dramatic surge in foreclosure inventories during the 1st quarter of 2013, Florida foreclosures up 80% over this period.
According to RealtyTrac more than 60% of the national foreclosure inventory in the 1st quarter of 2013 were properties with loan amounts under $200,000, homes with outstanding loan amounts between $200,000 to $400,000 represented an additional 30% of the foreclosure inventory.
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