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New foreclosure cases in SE Wisconsin last month lowest in 6 years

Foreclosure sign
Foreclosure sign

MILWAUKEE (WTAQ) - New foreclosure cases in January were the lowest for the month in six years in southeast Wisconsin.

The Milwaukee Journal Sentinel counted 720 new filings last month against those behind on their mortgages. That’s 29 percent lower than the previous January. And it’s the lowest for the month since 2007, when 699 foreclosure cases were filed in Milwaukee, Waukesha, Washington, Ozaukee, Racine, Kenosha, and Walworth counties.

Area foreclosures have dropped on an annual basis in each of the last three years.

Economist Brian Jacobsen says it’s, “a nice trend” which shows how much the housing market has improved.