A look at data on US homes that were in foreclosure or repossessed by banks in 2014 - InfoNews

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A look at data on US homes that were in foreclosure or repossessed by banks in 2014

January 15, 2015 - 12:41 PM

Foreclosures last year fell to their lowest level since before the housing bust. Rising home prices and a healthier U.S. economy helped push down the number of homes repossessed by banks in 2014.

Here are key facts about the foreclosures the U.S:

COMPLETED FORECLOSURES

— In 2014, banks repossessed 327,069 homes, down 29 per cent from 462,970 the previous year.

— Completed foreclosures declined 69 per cent from their peak of 1.05 million in 2010.

STATES WHERE FORECLOSURES ROSE:

— Maryland (58 per cent)

— New York (40 per cent)

— Oregon (38 per cent)

— Maine (35 per cent)

— New Jersey (34 per cent)

— Alaska (28 per cent)

— Connecticut (11 per cent)

— Hawaii (8 per cent)

— Iowa (5 per cent)

BANK-OWNED HOMES YET TO BE SOLD:

— As of Dec. 31, banks held some 421,164 unsold homes, down 17 per cent from the year before.

HOMES IN FORECLOSURE:

— As of Dec. 31, 642,927 homes were in some stage of the foreclosure process. That's down 11 per cent from the year before.

HOME EQUITY:

— In the 12 months ended Sept. 30, nearly 1.5 million homes returned to positive equity, which means the home is valued at more than what the owner owes on the mortgage.

— In the same period, some 5.1 million homes, or 10.3 per cent of all homes with a mortgage, remained in negative equity. That's when the value of a home falls below what is owed on the mortgage.

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Source: RealtyTrac, CoreLogic.

News from © The Associated Press, 2015
The Associated Press

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