Five states with the highest foreclosure inventory as a percentage of mortgaged homes (in descending order) are New Jersey, Florida, New York, Hawaii and Maine.
Palm Coast, FL – July 8, 2014 – Flagler County’s judicial foreclosure machine is operating at full capacity. During June, 126 Certificates of Title were filed. A Certificate of Title is typically issued after a successful foreclosure auction. The auction itself was preceded by a Final Judgment in a foreclosure case.
CoreLogic released today its National Foreclosure Report for May 2014. “Significant gains have been made in the last year to reduce the foreclosure stock. Yet, these improvements are occurring is proportionately in non-judicial states. The foreclosure inventory in judicial states is averaging 2.1 percent, which is more than twice the 0.9 percent average that is occurring in non-judicial states,” says Mark Fleming, chief economist for CoreLogic. (Florida is a judicial foreclosure state.)
Highlights from the May report include:
- Florida led all states with 122,000 completed foreclosures during the past 12 months, more than the next three states combined.
- Florida’s foreclosure inventory stands at 5.2% of mortgaged homes. This puts Florida in second place behind New Jersey (5.8%), and ahead of New York (4.3%), Hawaii (3.1%) and Maine (2.8%). The national foreclosure inventory is 1.7%.