Hot off the press from “The Commerical Record”

“The number of completed foreclosures nationwide fell 15.4 percent year-over-year in April and remained flat from March at 66,000, as the percentage of all homes with a mortgage in the foreclosure pipeline fell slightly to 3.4 percent, according to a recent report from California-based real estate tracking firm CoreLogic.

Among the 24 states with some form of a judicial foreclosure system, only four had a greater percentage of their total housing stock in the foreclosure pipeline than Connecticut. Florida (12 percent), New Jersey (6.7 percent), Illinois (5.3 percent) and New York (5 percent) all exceeded Connecticut’s 4.6 percent of homes with a mortgage in the foreclosure pipeline. The number of homes with a mortgage in the foreclosure pipeline in Connecticut rose 1.2 percentage points in April compared to April 2011, CoreLogic found.

North Dakota had the lowest percentage of homes with a mortgage in the foreclosure pipeline in the country, at just .9 percent.

“The inventory of homes in foreclosure in judicial foreclosure states is growing, but this increase is being more than offset by declining inventories in non-judicial states where the processing timelines to clear a foreclosure are shorter,” CoreLogic CEO Anand Nallathambi said in a statement. “Nationally the inventory of homes in foreclosure decreased 0.1 percent from what it was a year ago at this time, and has leveled off over the first four months of 2012.”

The foreclosure inventory is the stock of homes in the foreclosure process. A property moves into the foreclosure inventory when the mortgage servicer places the property into the foreclosure process after serious delinquency is reached, and remains there until the foreclosure is completed, CoreLogic said. The foreclosure inventory is measured only against homes with an outstanding mortgage, rather than against all homes. Nationwide, roughly one-third of homeowners own their homes outright”.

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