Calif. - The total number of foreclosures in Wisconsin dropped
by approximately 30 percent in 2014 from the previous year - a
rate that nearly doubles that of the rest of the nation.
A new study from CoreLogic - a global property
information, analytics and data-enabled services provider -
released Tuesday shows the 12-month sum of completed
foreclosures for 2014 was 563,294, the lowest total since
November 2007 when it was 589,570. The number of foreclosures
has also has declined each of the last 34 months.
In Wisconsin, last year’s foreclosure total was
6,749 - a significant drop from the 9,539 foreclosures recorded
in 2013. The state’s foreclosure inventory stood at 0.7 percent
last year, which was also a decrease of 0.4 percent from 2013.
The annual sum of completed foreclosures declined
15 percent from the 662,000 reported in 2013 and completed
foreclosures last year were less than half the 1.2 million peak
in 2010. However, those numbers still sit at twice the level of
normal activity from over 10 years ago.
According to the study, every state posted
double-digit year-over-year declines in foreclosure inventory
with the exception of West Virginia, which experienced a 9.5
The national serious delinquency rate - defined
as 90 days or more past due - was 4.1 percent in December 2014,
the lowest rate since June 2008. In Wisconsin, that rate stood
at just 2.5 percent.
Among 25 non-judicial foreclosure states - In
which lenders can issue notices of default directly to the
borrower without court intervention - Wisconsin had the 13th