Foreclosure Filing Rate Keeps Dropping

Last month saw 49,898 residential properties with foreclosure filings, down 10 percent from October and down six percent from a year ago, according to new statistics from ATTOM Data Solutions. Nationally, one in every 2,713 properties had a foreclosure filing in November.

 

The states with the highest foreclosure rates in November were Delaware (one in every 1,112 housing units), New Jersey (one in every 1,278 housing units), Maryland (one in every 1,476 housing units), Illinois (one in every 1,535 housing units) and Florida (one in every 1,607 housing units). Among the nation’s large metro areas, the highest foreclosure rates in November were found in Buffalo, N.Y. (one in every 798 housing units), Atlantic City, N.J. (one in every 968 housing units), Columbia, S.C. (one in every 1,082 housing units), Fayetteville, N.C. (one in every 1,134 housing units) and Trenton, N.J. (on in every 1,146 housing units).

 

During November, lenders repossessed 13,996 properties, up four percent from the previous month and up 22 percent from a year ago. Lenders started the foreclosure process for the first time on 24,966 property owners in November, down 13 percent from the previous month and down 11 percent from one year ago.

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