Foreclosure rates continue decline in Tennessee, other states

According to Realtor Magazine, siting statistics from the National Delinquency Survey conducted by the Mortgage Bankers Association, a recent survey reveals trends contrary to what most might assume: foreclosure rates are not on the rise everywhere. In fact, 8 states, including Tennessee(-3%), are reporting foreclosure declines. A block of states in the Southeast (South Carolina,-4%; North Carolina, -3%; Tennessee, and Arkansas -3%) reported declines. Other states reporting declines or no change include Utah (biggest decliner at -26%), New Mexico (-9%), Kansas (-1%), and Pennsylvania (no change). The statistics compare 2006-Q2 to 2007-Q2.