9 States Where Foreclosures Are Dropping the Most

Daily Real Estate News | Friday, October 12, 2012

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Foreclosures are continuing to fall across the country, reaching five-year lows, but states where foreclosures don’t have to be approved by courts are posting some of the largest drops, RealtyTrac reports.

The following states with a “non-judicial” process reported the largest annual decreases in foreclosure activity in the third quarter:

1. Nevada: 71 percent decrease

2. Oregon: 63 percent

3. Utah: 60 percent

4. Virginia: 34 percent

5. California: 29 percent

6. Michigan: 28 percent

7. Arizona: 23 percent

8. Colorado: 21 percent

9. Georgia: 20 percent

Some of the largest drops in foreclosure activity is attributed to recent laws adopted in some states — like Nevada, Oregon, and California — that have added requirements for lenders to meet before they can foreclose on home owners, RealtyTrac reports.

Source: RealtyTrac

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