RealtyTrac: Evictions Ease Following Foreclosure Moratoriums. New Defaults Trending Lower

Foreclosure activity took a nosedive in November, reflecting both an expected seasonal lull and foreclosure moratoriums that were imposed by several of the major servicers. RealtyTrac reports that foreclosure filings in November dropped 21 percent vs. filings in October. This is a 14 percent decline from November 2009. A total of 262,339 U.S. properties, one in every 492 housing units, were the subject of a foreclosure filing during the month. Both the 21 percent month-over-month decrease and 14 percent year-over-year decrease in foreclosure activity were the largest drop offs recorded since RealtyTrac began publishing its figures in January 2005. RealtyTrac, an Irvine California company, compiles a U.S. Foreclosure Market Report each month by tracking documents filed in all three stages of...(read more)

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Source: http://www.mortgagenewsdaily.com/12162010_foreclosures_realtytrac.asp

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