The percentage of homes with a mortgage in foreclosure in 5/16 was 1%, compared to 1.3% in 5/15 and a peak of 4.5% in 2010. The current rate is the lowest since 10/07 but is still double the historic average. NJ had the highest foreclosure inventory at 3.6%, followed by NY at 3.2% and HI at 2.1%. AK, AZ, CO, MN and UT all had the lowest rate at 0.3%.
Elliot F. Eisenberg, Ph.D