Chances for Foreclosure Have Decreased Since Recession
Households today are less likely to go into foreclosure than at any time since the Great Recession started, MarketWatch reports.
A strengthening job environment is the biggest contributor, as families in many parts of the country can better afford their monthly bills.
The numbers come from Irvine, Calif.-based analysis firm CoreLogic. “About 1.3 percent of all mortgaged homes were in the foreclosure process in May – the smallest share since the end of 2007,” the article notes. “A year earlier, the foreclosure-inventory rate was 1.7 percent.”
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