Iowa foreclosure inventory dropped below 1 percent last year

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Iowa financial institutions completed 5,087 foreclosures in 2014, up from 4,607 the year before, according to real estate research firm CoreLogic Inc. Overall, the number of mortgages in foreclosure dropped to 0.9 percent, down from 1.5 percent in 2013. Nationally, the foreclosure inventory was 1.4 percent of all homes with a mortgage in December, compared with 2.1 percent in December 2013.