Roughly 1.88 million homeowners nationwide received a mortgage solution or foreclosure alternative in the form of a loan modification, short sale, deed-in-lieu of foreclosure, or other workout plan during 2014.
Completed foreclosures declined by 27 percent – from 627,000 in 2013 down to 455,000 in 2014.
Short sales completed in 2014 totaled 130,000, bringing the total completed since December 2009 up to 1.57 million.
Mortgage Solution For 1.88 Million Homeowners in 2014
California: 4th Highest Amount of Foreclosures in US in 2014
Short Sale Solutions
For the 12 months ending in December 2014, California has the fourth most completed foreclosures at roughly 29,000 homes. With the total foreclosures across the country coming in at 563,294, California accumulates for nearly 6% of the total amount of foreclosures. Even though it is a high number, each state has seen a double-digit decline besides West Virginia.
According to the president and CEO of CoreLogic, “the steady decline in the … Read More