March showed signs of improvement for the national real estate market, with home foreclosure activity dropping to its lowest levels in four years, according to reports released last month.
Lender Processing Services (LPS) reported that the number of U.S. borrowers behind on payments or in foreclosure dropped below 5 million in March 2013 — the lowest numbers since 2008. Online real estate data provider RealtyTrac reported foreclosure filings during the month dropped 23 percent from the same period in 2012.
As of March, LPS listed Alaska, Montana, North Dakota, South Dakota and Wyoming as the states with the lowest percentage of foreclosures and delinquent loan payments, while Florida, New Jersey, Nevada, New York and Mississippi had the highest percentage of foreclosures and delinquent loan payments.
David Thun is an Associate Editor at the National Notary Association.