The inventory of loans in foreclosure fell 24% in July to a rate of 1.4%, compared to a year earlier, Black Knight reported.
A total of 711,000 loans remain in the foreclosure inventory, the lowest level since the end of 2007.
The national delinquency rate in July improved to 4.7% of existing mortgages.
Mississippi had the highest rate of noncurrent loans, as a percentage, at 12.75%. But the number of bad loans in the state declined by 10.18% from a year earlier, and was down from an October 2005 peak of 22.85%. New Jersey, Louisiana, Maine and New York followed as having the next-highest rates of noncurrent loans.
Sorth Dakota had the lowest percentage of noncurrent loans at 2.12%, followed by Colorado, Minnesota, Montana and North Dakota.
