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.
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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.
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