Fewer Default Notices in February. Home Repos Restricted

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Posted To: MND NewsWire

Foreclosure filings of all types continued to decline during February, with 225,101 filings of all types recorded on U.S. properties during the month. This is a 14 percent decrease from January and is 27 percent lower than the same period a year earlier. According to RealtyTrac's US Foreclosure Market Report released on Thursday, that year-over-year decrease is the largest recorded by the company since it began keeping records in 2005. A foreclosure filing was reported on one out of every 577 U.S. housing units. RealtyTrac bases its reports on a database derived from a nationwide survey of foreclosure filings in three categories: Notice of Default (NOD) and Lis Pendens (LIS). This is the first legal notification from a lender that the borrower on a mortgage loan has defaulted under the terms...(read more)

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Source: www.mortgagenewsdaily.com

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