Foreclosure activity down

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Thursday, May 30, 2013

Lenders foreclosed on 52,000 U.S. homes in April, down 16% from 62,000 in April 2012.

Rising home values and an improved economic outlook, as well as increased access to loan modifications and other alternatives, have helped slow the pipeline of homes headed for foreclosure. About 1.1 million homes were in foreclosure nationwide, representing 2.8 percent of all mortgaged homes. A year ago, 1.5 million homes were in foreclosure.

"Fewer distressed properties combined with improving home prices and a pickup in home purchases are significant signals that the ongoing recovery in the housing and mortgage markets continues to gather steam," CoreLogic chief executive Anand Nallathambi said in a statement.

Read more at OregonLive.com.

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