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CoreLogic: Foreclosure Inventory Down 20 Percent in July

by Peter Thomas Ricci

The latest National Foreclosure Report from CoreLogic highlighted a number of positive developments in the nation’s mortgage markets.

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The nation’s mortgage markets continued to improve in July, according to the latest National Foreclosure Report from CoreLogic, with foreclosure inventory, serious delinquencies and completed foreclosures all on the decline.

“Foreclosures and delinquency rates continued their rapid descent in July,” said Anand Nallathambi, president and CEO of CoreLogic. “Every state posted a year-over-year decline in foreclosures and serious delinquencies fell to the lowest level since December 2008.”

And what of here in South Florida? Though CoreLogic did not release specific data for Miami, its numbers on the Sunshine State were promising. Florida’s foreclosure inventory remains the highest in the nation at 8.1 percent of mortgaged properties, but that’s down a notable 3.41 percentage points from a year ago, and the 110,000 foreclosures that Florida has completed in the past 12 months is the highest in the nation; but still, there are ways to go, as 12.67 of mortgaged properties in Florida remain in serious delinquency.

But how does our city compare with the rest of the nation? Take a look at our infographic below for some perspective:

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