Foreclosures drop sharply in St. Louis
ST. LOUIS (AP) - New data shows that home foreclosures are down - way down - in the St. Louis area.
The St. Louis Post-Dispatch citing the latest report from CoreLogic, says 0.7 percent of homes with mortgages in the metro area were in foreclosure in May, down from 1.1 percent a year earlier. Being in foreclosure means that the lender has begun the foreclosure process, or that the home has been taken by the bank.
Foreclosures have dropped across the nation. Nationally, 1.7 percent of all homes with a mortgage were in foreclosure in May, down from 2.6 percent 12 months earlier.
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