A leading information portal, Foreclosures.com has recently claimed that the foreclosure tide may have finally started turning.

Specialising in foreclosure related information the company supports its claims with figures that show that the rate of foreclosures appears to be dropping over April and May of this year. The data shows that not only has the number of foreclosures declined by 11.98 % from April but the number of pre-foreclosures too has dropped by 8.89 % in May this year.

Over the past 20 years ForeclosureS.com has collected and analysed foreclosure information and amassed a huge database of more than 5.5 million property listings. The information on the foreclosures is sourced from formal notices filed against a property. These include notices of default, foreclosure auctions and REO foreclosure. The accuracy of the information provided has made ForeclosureS.com a reliable reference point for many professionals.

President of ForeclosureS.com, Alexis McGee emphasises that the numbers reflect her own estimation that the housing market is in a better situation than it would otherwise appear. She points out that buyers are resorting to purchasing foreclosed homes as the number of new houses being constructed has fallen. Thus supply is once again catching up with demand and the housing market is finally reaching rock bottom.

McGee also attributes the turnabout in part to efforts by the government and industry to help homeowners sort out their problems with mortgage and defaulting payments. Today, much is being done by all the concerned parties to ensure that defaulting homeowners avoid foreclosure by working out alternative options.

As an expert and educator in foreclosures, McGee herself has authored The ForeclosureS.com Guide to Advanced Investing Techniques You Won’t Learn Anywhere Else (Wiley) and The ForeclosureS.com Guide to Investing in Pre-foreclosures Without Selling Your Soul (Wiley).

While emphasizing that the monthly figures were cause for optimism, McGee is also careful to point out that the year to date (YTD) figures show that there is still a long way to go before the current foreclosure crisis can be termed over. The YTD data reflects increases in foreclosures since last year. According to ForeclosureS.com, the number of REOs rose by 68.36 % since last year and out of every 1000 households, 117 faced pre-foreclosure. However the monthly REO numbers have started falling recently, which is being seen as a positive sign.

More detailed data and statistics regarding foreclosure filings at various stages can be accessed on the ForeclosureS.com website.

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