General World News

Foreclosure inventory hits 15-month low in July

Foreclosure inventory hit a 15-month low in July representing the continued strength of mortgage performance.

Loans in active foreclosure fell to 220,000 – the fewest since just after the end of federal foreclosure moratoria – and were down 63,000 or 22% from February 2020, prior to the pandemic, according to Black Knight’s mortgage performance statistics.

July’s foreclosure starts of 26,300 were 4% below the average number of such actions over the preceding 12 months and remain 39% below pre-pandemic levels.

Foreclosure starts equated to 5.6% of 90+ day delinquencies – still more than three percentage points below pre-pandemic foreclosure referral rates. details ⇒

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