The inventory of foreclosed homes continues to shrink, according to the latest figures released by Core Logic. Some 1.2 million homes, representing 3.0 percent of all homes with a mortgage, were in the national foreclosure inventory at the end of November, down from 1.5 million homes that were in foreclosure in November 2011. Some 55,000 U.S. properties completed the foreclosure process in November, down 23 percent from a year ago when foreclosures totaled 72,000, and they declined 6 percent from the 59,000 foreclosures in October.
California, Florida, Michigan, Texas and Georgia had the highest number of completed foreclosures for the 12 months ending November 2012 and collectively, they accounted for half of all foreclosures nationwide. The states with the largest inventory of foreclosures as a percentage of all mortgaged homes were Florida, New Jersey, New York, Nevada and Illinois.
By Regina Ludes, Friday, 4 January 2013 - 2:46pm
California, Florida, Michigan, Texas and Georgia had the highest number of completed foreclosures for the 12 months ending November 2012 and collectively, they accounted for half of all foreclosures nationwide. The states with the largest inventory of foreclosures as a percentage of all mortgaged homes were Florida, New Jersey, New York, Nevada and Illinois.
By Regina Ludes, Friday, 4 January 2013 - 2:46pm
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