Idaho’s Foreclosure Rate Posts Dramatic Drop Over Last Year

RealtyTrac

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Idaho’s foreclosure rate ticked up slightly in January, by about 6 percent.  That’s according to new numbers from RealtyTrac, which analyzes housing and foreclosure data.

That said, the current rate represents a dramatic 68 percent decrease from January of 2011.  Moreover, Idaho’s foreclosure rate has now fallen to 16th in the nation, after remaining in the top ten for much of last year.

Nationally, the foreclosure rate ticked up by 3 percent from December to January, leading RealtyTrac CEO Brandon Moore to say there are signs “the frozen-up foreclosure process is beginning to thaw.”  That’s in the wake of last week’s $26 billion mortgage settlement between government officials and five of the nation’s largest banks.