The percentage of foreclosed mortgages has reached its lowest point in nine years, according to Black Knight Financial Services' September First Look report, NationalMortgageNews.com reported. The presale foreclosure rate of 1 percent represents a 3.38 percent decline from August and a 31.23 percent year-over-year decline. There are 509,000 homes in the presale inventory, down 18,000 from the previous month and 228,000 from last September. There were 61,700 foreclosure starts for the month, a 10.32 percent reduction from the previous month and a drop of 22.78 percent from September 2015. There are 2.17 million properties that are more than 30 days late but not in foreclosure as of Sept. 30, an increase of 14,000, but down by 292,000 from one year ago.
