Zombie foreclosures down 43% in third quarter from last year

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National foreclosure inventory falls 18% from last year Zombie foreclosures down 43% in third quarter from last year Kerri Ann Panchuk was the Online Editor of HousingWire.com, and regular.

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Empty properties in foreclosure fell by 43% over last year. More than 6% are seriously underwater, meaning the combined value of loans secured by the property is at least 25% more than the market value, and only 3% are bank-owned or in the foreclosure process.

In the third quarter, these types of foreclosures fell by 27%. On an annual basis they dropped by 43%. "The overall inventory of homes in the foreclosure process has dropped 36% over the past year, so it’s not too surprising to see a similarly dramatic drop in vacant zombie foreclosures," said Daren Blomquist, RealtyTrac vice president ( Housingwire.com ).

Collier County has 16 foreclosures on vacant homes which is down 77 percent from 69 in the third quarter last year. In Charlotte County, there were 40 zombie foreclosures, a decline of 52 percent from 83 during the third quarter 2014. Nationwide, zombie foreclosures were down 43 percent from a year ago.

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Ally to reduce mortgage principal in Michigan Zombie foreclosures down 43% in third quarter from last year Zombie foreclosures down 43% in third quarter from last year trey garrison was a Senior Financial Reporter for HousingWire.com. His body of works are his views and his views alone.Use our free mortgage calculator to estimate your monthly mortgage payment, including your principal and interest, PMI, taxes, and insurance.

According to ATTOM Data Solutions newly released Q2 2019 U.S. Home Flipping Report, 59,876 U.S. single family homes and.

According to the firm’s Zombie Foreclosure and Vacant Property Report, there were about 20,050 ‘zombie’ foreclosures nationwide at the end of the third quarter – down 27% compared with the second quarter and down 43% from the third quarter of 2014. Zombie foreclosures occur when a borrower in foreclosure vacates his home before the foreclosure process is completed.

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