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CoreLogic: 48,000 completed foreclosures in Oct.
IRVINE, Calif. – Dec. 9, 2013 – CoreLogic released its October National Foreclosure Report. It finds 48,000 completed foreclosures in the U.S. in October 2013 – a sale where the bank actually took the home – down from 68,000 in October 2012 for a year-over-year decrease of 30 percent.
On a month-over-month basis, completed foreclosures decreased 25.6 percent from 64,000 reported in September.
According to CoreLogic, Florida had 114,588 completed foreclosures year-to-year by October. As a judicial state – meaning one in which foreclosures generally take longer because they must go through the court system – the recovery has taken more time. However, a non-judicial state had the second-highest level of completed foreclosures by October – Michigan with 50,186.
Overall in Florida, 7.1 percent of homes with a mortgage were part of the foreclosure inventory in October, for a 3.1 percent year-to-year decline.
Completed foreclosures are an indication of the total number of homes actually lost to foreclosure. Since the financial crisis began in September 2008, there have been approximately 4.6 million completed foreclosures across the country. As a basis of comparison, prior to the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 ... more

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