SC among national leaders in shedding foreclosures

Posted by Admin Beverly Homes on Monday, October 13th, 2014 at 8:12pm.

South Carolina was among the leaders of the 24 judicial states in completing foreclosures for the 12 months that ended in August. According to international real estate tracker CoreLogic, South Carolina’s 9,217 cleared foreclosures was the seventh highest, just behind Oklahoma and ahead of Maryland. Judicial states require that foreclosures proceed through the court system, a process thought to take longer than the administrative foreclosures in the other 26 states and the District of Columbia. CoreLogic said that just 1.6 percent of South Carolina’s current housing inventory is in some stage of foreclosure, a rate that tied it with Ohio, Oklahoma and Vermont.Florida had the largest percentage -- 4.6 -- of its housing stock in the foreclosure process, and Nebraska -- just 0.4 percent -- the lowest.CoreLogic reported that just 4.1 percent of the state’s homes are in serious delinquency, which generally means at least 90 days behind in payments.

Source: Myrtle Beach Online Steve Jones


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