Foreclosure Numbers | A bit of a surprise
Foreclosure numbers–A Comparison
We often hear the numbers and think how bad it is. What if you look at the opposite side? How bad is it?
There are approximately 61,800,000 homeowners in the US
One third, that’s 33%, of US homeowners own their homes free and clear—that’s right, no mortgage.
Nationally, 3.4% of mortgages are in foreclosure (approximately 1,400,000). This percentage is only measured against homes with mortgages. That means that 96.6% (approximately 41,200,000) of homeowners with mortgages are not in foreclosure.
Of all the homeowners in the country 60,400,000 (or 97.7% of all homeowners) are not in foreclosure.
Of course, on a home-by-home, family-by-family basis, any foreclosure is a crisis. But, the numbers from a statistical “big picture” standpoint need perspective.
Related Link: The Inventory Of Foreclosed Properties Has Begun To Shrink…
Note: A property moves into the foreclosure inventory when the mortgage servicer places the property into the foreclosure process after serious delinquency is reached and remains there until the foreclosure is completed. Calculations assume that information provided by CoreLogic is accurate. Some variance is numbers results from rounding in calculations.
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