Foreclosures at five-year low in Holland

For the first time in five years, foreclosures dropped in 2011 as lending institutions appear to be adapting to the recent mortgage issues.

According to an article in the Holland Sentinel:

Foreclosure activity for the greater Holland area dipped during 2011 — the first time in at least five years, according to an industry website.

Data released by RealtyTrac.com this morning showed 1,572 properties in Ottawa County were associated with foreclosure filings — default notices, scheduled auctions and bank repossessions — during 2011. That number peaked at 2,269 in 2010 after increasing each year for at least five years running.

You can read the entire story here.