Wednesday, February 19, 2014
Lenders repossessed fewer U.S. homes in January, bringing the number of completed foreclosures down to the lowest level in more than six years.
Banks took back 30,226 homes last month, a drop of 4 percent from December, foreclosure listing firm RealtyTrac said. Completed foreclosures were down 40 percent from January last year to the lowest level since July 2007, the firm said.
The U.S. housing market has emerged from a deep slump, aided by rising home prices, steady job growth and fewer troubled loans dating back to the housing-bubble days. Meanwhile, more homeowners are keeping up with their mortgage payments.
That's led to fewer homes entering the foreclosure pipeline on a national level and is another bright spot in your housing market.
Posted by Ed Hughes at 8:51 AM