Foreclosures drop sharply in St. Louis

5 years 1 week 4 days ago Wednesday, July 09 2014 Jul 9, 2014 Wednesday, July 09, 2014 8:30:00 AM CDT July 09, 2014 in News
By: The Associated Press

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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