</p

“The decline in completed foreclosures is yet anotherrnpositive signal that the housing market is continuing on a progressive path ofrnstabilization and recovery,” said Anand Nallathambi, president and CEO ofrnCoreLogic.  “Alternative resolutions arernhelping to reduce foreclosures and often result in a more positive transitionrnfor the borrower and lower losses for investors and lenders.” </p

Mark Fleming, chief economist for CoreLogic noted that thern16 percent year-over-year decline in foreclosure is in part because servicersrnare increasingly relying on foreclosure alternatives such as short sales andrnmodifications.  </p

Completed foreclosures are concentrated in five states.  California, Florida, Michigan, Texas, andrnGeorgia together accounted for 48 percent of all completed foreclosures in thern12 months ending in July. </p

The five states with the highest foreclosure inventory as arnpercentage of all mortgaged homes were Florida (11.2) percent, New Jersey (5.7rnpercent), New York (5.2 percent), Illinois (4.9 percent), and Nevada (4.7rnpercent.) </p

Sincernthe financial crisis began in September 2008, there have beenrnapproximately 3.8 million completed foreclosures across the country. Completedrnforeclosures are an indication of the total number of homes actually lost tornforeclosure.</p

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