Anand Nallathambi, President and CEO of CoreLogic said, “Though the national foreclosure inventory levels remain steady, around 1.4 million homes, there have been dramatic shift at the state level. Nevada, Arizona and Michigan, for example, each experienced at least a 20-percent decline in the foreclosure inventory from a year ago. While foreclosure inventories in most states are declining, the foreclosure inventory is still rising in many judicial states, such as Hawaii, New York and Connecticut.” The original states that went through that whole foreclosure mess are in much better shape this time than the states that prevented those foreclosures from coming to market because of their court system. All the states in blue are judicial states. That means there was a court system that the banks had to go through, a court process I should say, that the banks had to go through in order to foreclose on a property. Those are the states most at risk at this moment in time, because they have the most backup of foreclosures, because they didn’t let them clear through the system yet. – Courtesy of KCM Crew
Michele Herndon
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