Is the national foreclosure crisis behind us? Some people seem to think so and there is definitely evidence to support the notion. Rick Sharga, the executive Vice President of Auction.com, stated that at the peak of the crisis roughly 14.5 percent of all loans were in the process of foreclosure or were delinquent. As of June 2014, approximately 7.5 percent of all loans were either delinquent or in the foreclosure process making it half of what it was during the peak. In Good News, Bad News in Foreclosure Activity Sharga states that he believes in the next couple years the 7.5 percent should work its way down to the “normal market” which is between 4 and 5 percent.

RealtyTrac’s findings in their U.S Foreclosure Market Report are another indicator that the nation is coming out of the foreclosure crisis. It showed that there were 109,824 foreclosure filings in May 2014 which was a 5 percent decrease from April 2014 and a 26 percent decrease from May 2013. In fact, it was the lowest amount of reported default notices, scheduled auctions and bank repossessions since December 2006.

However, even though national foreclosure filings are the lowest they have been in years, several states have recently seen an increase in foreclosure activity. Bank repossessions were down nationally this May by 6 percent from the previous month and were the lowest they have been since July 2007. However, they increased in 25 states, most predominately in NY, NJ, CT, MD, OR, and CA. And while there were 47,085 scheduled foreclosure auctions in the U.S. this May, making it the lowest level since December 2006 and down 22 percent from a year ago, foreclosure auctions nevertheless increased significantly in UT, OR, NJ and MA.