Freeport 815-235-2111 — Galena 779-214-0461 — Galena Territory 815-777-3100

According to an article written by Brian Honea along with data from Black Knight Financial Services:

There is some good news concerning foreclosure properties as of the end of January 2015, foreclosure inventory year over year in January fell by 31.4%–as good as that sounds, the foreclosure starts were 5.5% increase month over month. The starts were 94,000 for January which was the highest number since December 2013.

The number of nationwide properties in pre-sale inventory for January was 815,000 with the 31.4% decline which amounts to 316,000. The delinquency rate (% of loans 30 days or more past due but not yet in foreclosure) was 5.56% in January which is a decline of 1.4% from December and 11.3% from December 2013.

The number of delinquent Mortgages in January was 2.8 million which was a decline of 55,000 from December 2014 and 327,000 from January one year ago.

The number of properties that were 90 days or more past due but not in foreclosure was 1.12 million, down by 20,000 month over month and 177,000 year over year.

In another article from Brian, he states that JWB Real Estate Capital (Florida) has published an online investment property short sale guide which provides information for property owners on foreclosure prevention. Although the legal process varies state by state this guide may be used by property owners who are behind on their payments to help them understand the options and hopefully prevent a foreclosure on their own home.

Thank you Brian for sharing your information with us.

Teresa Fogel

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