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Foreclosures Drop to Lowest Level in 7 Years


Source: CNN/Money

The foreclosure crisis is showing signs that it’s finally fading away.The number of new foreclosure filings — which includes default notices, auctions and bank repossessions — dropped 15% to a total of 113,454 properties in November, according to RealtyTrac, an online marketer of foreclosed properties.

That was the biggest monthly decline since November 2010, and foreclosure filings are now at the lowest level since December 2006. From a year ago, filings are down 37%.

“[T]he depth and breadth of the decrease provides strong evidence that we are entering the ninth inning of this foreclosure crisis with the outcome all but guaranteed,” Daren Blomquist, vice president at RealtyTrac, said in a statement.foreclosures

Read the full story at CNN/Money