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Foreclosure Filings Down
Saturday, January 21st, 2012 at 7:40am. 246 Views, 0 Comments.
Foreclosure filings and repossessions fell to their lowest level since 2007 last year.
Totalfilings, including default notices and bank repossessions were down 33% for the
year to 2.7 million, according to RealtyTrac, the online marketer of foreclosed
properties.
Onein every 69 homes had at least one foreclosure filing during the year, while 804,000
homes were repossessed. That's a significant improvement from the peaks reached
in 2010 -- when 1.05 million homes were repossessed -- and the lowest levels
seen since 2007.
More than 4 million homes have been lost to foreclosure over the past five years.
While the declines seem like good news for the housing market, where a flood of
foreclosed homes has depressed home prices, much of it is due to…
