Foreclosure Activity at Lowest Level in 5 Years; Severe Problems Continue in Some States

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Posted To: MND NewsWire

Foreclosure activity nationwide fell to the lowest level in September since almost the beginning of the foreclosure crisis according to RealtyTrac's U.S. Foreclosure Market Report released this morning. Foreclosure filings fell 7 percent from the August level to a total of 180,427 or one in every 730 housing units. The total is 16 percent below filings in September 2011 and the lowest since July 2007. RealtyTrac is an Irvine, California firm that tracks three categories of foreclosure filings gathered from county level sources. 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 of their mortgage and the lender intends to foreclose unless the loan is brought current. Auction - Notice...(read more)

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Source: www.mortgagenewsdaily.com

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