Foreclosures Were At A 7-Year Low In June

Mortgage foreclosure filings in seven southeastern counties dropped more than 41 percent in June, making it the lowest one-month total in seven years.

The decrease came as a pleasant surprise to Russ Kashian, a University of Wisconsin-Whitewater economics professor. He predicted there would be about a 25-percent decrease.

“It seems we hit a tipping point, when suddenly we’re returning very quickly to the norm,” said Kashian.

Kashian says this is a good sign for the economy, and that the whole state has basically improved. Like southeastern Wisconsin, a majority of the large counties are seeing 35 to 50 percent decreases in foreclosure filings.