At last, some good news and a definite silver lining in the horizon are evident. Coming out of the long struggle, foreclosure in the country have been at the lowest levels, over the past 7 years. Foreclosures include bank repossessions, default notices and auctions. The percentage of such foreclosures has also come down by 15% and in absolute terms, it is around 113,000 properties during the month of November 2013. The figures are as reported by Realty Trac, which is a reputed online marketer of properties.
The Biggest Single Monthly Decline
The figure certainly augurs well for the future particularly because it is the biggest drop in foreclosures since November 2010. In fact going a step further, it would be pertinent to point out that filings for foreclosures have also come down quite significantly. It is at its lowest levels since December 2006. In percentile terms, it is down by almost 36%, which certainly is great news for the country, as a whole.
Some More Good News
The number of people who have continued to live in the same houses even after having been served foreclosure notices in percentage terms works out to 50%. This, without any doubt, is great news because more people are able to hang on to their homes by clearing their mortgage dues than ever before.
Source:http://money.cnn.com/2013/12/12/real_estate/foreclosure-low/index.html?iid=SF_PF_River