ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL – 05/03/2012

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL – 05/03/2012

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

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Trends in serious delinquencies and foreclosures continue to be a tale of two legal systems. According to loan data aggregator CoreLogic, in the 24 states where courts handle the foreclosure process, 13 saw foreclosure inventory rates increase in March when compared to a year ago.

In contrast, the percentage of homes in the foreclosure process during March posted annual increases in only three of 26 nonjudicial foreclosure states.

The picture was much the same for serious delinquencies of 90 days or more — 15 of 24 judicial foreclosure states saw an annual increase in serious delinquency rates during March, compared with just five of 26 nonjudicial foreclosure states.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

“Nonjudicial foreclosure markets like Nevada, Arizona and California are experiencing significant improvements in their shares of delinquent borrowers,” said CoreLogic Chief Economist Mark Fleming in a statement. “Some judicial foreclosure states are also improving, like Florida, but not to the extent of nonjudicial markets.”

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

Nine out of 10 states with the highest foreclosure inventory rates were judicial foreclosure states: Florida (12.1 percent), New Jersey (6.6 percent), Illinois (5.4 percent), New York (4.9 percent), Connecticut (4.5 percent), Maine (4.4 percent), Hawaii (4.3 percent), South Carolina (3.8 percent) and Indiana (3.5 percent).

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

The exception was Nevada, a nonjudicial foreclosure state with a 4.9 percent foreclosure inventory rate, the fourth highest in the nation. The three nonjudicial foreclosure states that saw increases in foreclosure inventory rates were Oregon (up 0.4 percent, to 3.1 percent), Mississippi (up 0.2 percent, to 2.8 percent), and North Carolina (up 0.4 percent, to 2.6 percent). Washington D.C., also saw foreclosure inventory rates climb by 0.2 percent, to 2.5 percent.

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