CoreLogic released their National Foreclosure Report for February this morning.
CoreLogic reported that the national delinquency rate was at 3.2% in February, the lowest since November 2007.
Approximately 434,000 homes in the United States were in some stage of foreclosure as of February 2016, compared to 571,000 in February 2015, a decrease of 23.9%. This was the 52nd consecutive month with a year-over-year decline. As of February 2016, the foreclosure inventory represented 1.2% of all homes with a mortgage, compared to 1.5% in February 2015.
CoreLogic breaks down the foreclosure inventory by judicial vs non-judicial foreclosure states (see page 8 and 9 of the report). The judicial foreclosure states – that are still working through the backlog of foreclosures – have far more foreclosure inventory than the non-judicial foreclosure states.