Foreclosures dip in Show-Me State

Completed foreclosures in Missouri for the 12-month period ended April 30 totaled 12,215, a 3.9 percent decrease compared to 12,686 a year earlier.

The Show-Me State’s April foreclosure inventory - representing the number of homes at some stage of the foreclosure process - was flat at 0.5 percent. The U.S. foreclosure inventory also had no change from March at 1.1 percent, according to a news release from real estate market tracker CoreLogic.

In April, foreclosures nationwide tallied 37,000, down from 43,000 in the same month of 2015.

U.S. homes in serious delinquency - those with mortgages 90 days or more past due - dropped 21.6 percent to 1.1 million in April from a year earlier, according to the release.

"The number of homeowners who have negative equity has fallen by two-thirds since its 2010 peak and the number of borrowers in foreclosure proceedings also has continued to drop," said Anand Nallathambi, president and CEO of CoreLogic, in the release. "Despite this progress, about 4 million homeowners remained underwater at the end of the first quarter, and these borrowers are more vulnerable to foreclosure proceedings if they should fall delinquent."