Foreclosure filings fall 8 percent in November
WASHINGTON (AP) - RealtyTrac is reporting the fourth straight monthly decline in the number of homeowners on the brink of foreclosure.
Published: December 10, 2009
WASHINGTON (AP) - RealtyTrac is reporting the fourth straight monthly decline in the number of homeowners on the brink of foreclosure.
About one in every 417 homes received a foreclosure related notice in November, down 8 percent from October, but an increase of 18 percent from a year ago. About 77,000 houses were repossessed last month, a slight decline from October.
The numbers come as millions of borrowers are being evaluated for the Obama administration's foreclosure prevention effort. States are also trying to delay the foreclosure process, temporarily lowering foreclosure numbers.
RealtyTrac's vice president says despite the slowing pace of foreclosure filings, the underlying problems haven't been resolved. Rick Sharga says many borrowers "simply aren't going to qualify" for help.
A new wave of foreclosure filings is expected next year as unemployment remains high.
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