Dollars & Sense

Home foreclosures decline in Kansas and Missouri

Updated: 2013-08-15T03:16:21Z


The Kansas City Star

Homes facing bank foreclosure actions in Kansas and Missouri continued to decline in July from a year earlier, according to a report released Wednesday.

The foreclosure landscape nationwide also showed year-over-year improvement, based on data collected by RealtyTrac, a real estate research firm in Irvine, Calif. The company said foreclosure activity in July was 64 percent below the peak set in March 2010, when the housing market was bottoming out from the financial crisis that triggered the recession.

RealtyTrac said in its latest report that foreclosure actions in Kansas — including default notices, scheduled auctions and bank repossessions — dropped 5.2 percent in July from the same month in 2012. There were 726 homes facing foreclosure filings last month, or one in every 1,693 properties in the state.

In Missouri, the number of problem properties fell nearly 40 percent from July 2012. That amounted to 1,405 homes in foreclosure proceedings, or one in every 1,924 in the state.

Nationally, foreclosure filings fell 32 percent last month from a year earlier, although the rate was up 2 percent from June, RealtyTrac said.

Nine of the 10 highest metro foreclosure rates in July were in Florida, with Miami facing the biggest problems.

“While foreclosures are continuing to boil over in a select group of markets … the foreclosure boilover markets are becoming fewer and farther between,” said Daren Blomquist, vice president of RealtyTrac. “Lenders have caught up with the backlog of delayed foreclosures in some of the states with the more lengthy judicial foreclosure process.”

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