860,000+ Foreclosures Completed in 2011

Recently, CoreLogic released their annual National Foreclosure Report. Corelogic is a leader in providing financial, real estate and consumer data used by top industry experts. In this report, they provide information on foreclosures by month, total foreclosure inventory and delinquency rates.

Their findings include the five states with the highest foreclosure rates. The leaders are no surprise – it’s the states we’ve seen over and over that are struggling with foreclosures: Florida (nearly 12%), New Jersey (6.4%), Illinois (5.3%), Nevada (5%) and New York (4.7%). The five states with the lowest foreclosures included Texas (1.3%), Nebraska (1.1%), N. Dakota and Alaska (.8%), and Wyoming (.7%).

Collectively, five states accounted for nearly 50% of all completed foreclosures around the country. Of the top 100 markets in the country, 32 experienced an increase in foreclosures versus a year ago. The overall number of homeowners who are more than 90 days late on their mortgage payments declined, from 7.8% in January 2011 to 7.2% in January 2012.

This shows that there is still a big opportunity for real estate investors to help homeowners who are facing foreclosure and need viable options to help them out of their situations.

To read the complete report, click here.

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