Welcome to Traverse City Area Real Estate Sign in | Help

Traverse City Real Estate Blog

Traverse City Real Estate Blog, Traverse City real estate information, Traverse City area events and information, real estate market information


Foreclosure Starts Cut in Half

Foreclosure starts have fallen to half the level they were a year earlier, according to second quarter data recently released from the Office of the Comptroller of the Currency. 

In the second quarter, there were 150,592 foreclosures started—down 50.8 percent from the second quarter of 2012. It’s the fewest number of foreclosure starts in any quarter since early 2008, according to the OCC, whose report reflects performance on first-lien residential mortgages.  

The OCC attributes the drop to a strengthening economy, aggressive foreclosure prevention efforts, loan modifications, and regulatory actions. 

By the end of the second quarter, 90.6 percent of all mortgages reflected in the OCC report were current and performing—compared to 88.7 percent a year earlier.  

Source: “Foreclosure Starts Halved over 12 Months,” Mortgage News Daily (Sept. 26, 2013)

Read more

Improved Home Equity Boosts Household Wealth
Foreclosure Activity Drops to 6-Year Low

 Search Traverse City Real Estate area Foreclosures and ALL area listings at www.c21jb.com



Posted: Monday, September 30, 2013 4:06 PM by Jon Becker


No Comments

Leave a Comment





Comment Notification

Subscribe to this post's comments using RSS