Foreclosure filings in April reached the lowest level since November 2005, according to data from ATTOM Data Solutions.
Mortgages originated in the past seven years have performed relatively well, keeping foreclosure activity down, said Daren Blomquist, senior vice president at ATTOM.
“Meanwhile, we are seeing an elevated share of repeat foreclosures on homeowners who often fell in default several years ago but have not been able to avoid foreclosure despite the housing recovery,” he said.
New Jersey continues to have the highest foreclosure rate in the nation, thanks in part to communities like Atlantic City and Trenton, where many housing units had foreclosure filings.
Newer Mortgages Are Performing Well
A shrinking number of U.S. properties started the foreclosure process in April. The 34,085 foreclosure starts for the month are well below the pre-recession average of 77,000.
A foreclosure can devastate a homeowner’s credit. You can see how your mortgage or foreclosure is affecting your credit by reviewing your free credit report summary on Credit.com.
While foreclosures dropped nationwide, many states continue to struggle. Here are the 10 with the highest foreclosure rates.
10. Massachusetts
April 2017 Foreclosure Rate: 1 in every 1,329 housing units
Change from March 2017: Up 25.78% (was No. 19)
Change from April 2016: Up 2.95% (was No. 14)
9. Ohio
April 2017 Foreclosure Rate: 1 in every 1,273 housing units
Change from March 2017: Down 9.16% (was No. 8)
Change from April 2016: Down 23.66% (was No. 8)
8. South Carolina
April 2017 Foreclosure Rate: 1 in every 1,209 housing units
Change from March 2017: Down 14.29% (was No. 6)
Change from April 2016: Down 20.96% (was No. 7)
7. Florida
April 2017 Foreclosure Rate: 1 in every 1,202 housing units
Change from March 2017: Up 3.63% (was No. 9)
Change from April 2016: Down 38.90% (was No. 4)
6. Nevada
April 2017 Foreclosure Rate: 1 in every 1,140 housing units
Change from March 2017: Down 24.80% (was No. 3)
Change from April 2016: Down 33.42% (was No. 5)
5. Illinois
April 2017 Foreclosure Rate: 1 in every 1,083 housing units
Change from March 2017: Down 20.34% (was No. 5)
Change from April 2016: Down 12.98% (was No. 6)
4. Connecticut
April 2017 Foreclosure Rate: 1 in every 956 housing units
Change from March 2017: Up 20.91% (was No. 7)
Change from April 2016: Up 29.22% (was No. 11)
3. Maryland
April 2017 Foreclosure Rate: 1 in every 776 housing units
Change from March 2017: Up 5.68% (was No. 2)
Change from April 2016: Down 29.38% (was No. 1)
2. Delaware
April 2017 Foreclosure Rate: 1 in every 706 housing units
Change from March 2017: Up 21.53% (was No. 4)
Change from April 2016: Down 10.38% (was No. 3)
1. New Jersey
April 2017 Foreclosure Rate: 1 in every 562 housing units
Change from March 2017: Down 11.59% (was No. 1)
Change from April 2016: Up 0.63% (was No. 2)
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