According to a report from RealtyTrac, national foreclosure rates dropped 2% in February compared to the previous month. In addition, one in every 418 U.S. housing units received a foreclosure filing.

"This leveling of the foreclosure trend is not necessarily evidence that fewer homeowners are in distress and at risk for foreclosure, but rather that foreclosure prevention programs, legislation and other processing delays are in effect capping monthly foreclosure activity -- albeit at a historically high level," said RealtyTrac CEO James Saccacio.

Six states accounted for 60% of all foreclosure filings: California, Florida, Michigan, Illinois, Arizona and Texas. Nevada, Arizona and Florida are posting the highest numbers of foreclosures.

Read more about the report's finding and statistics on CNNMoney and RISMedia, as well as from the press release issued by RealtyTrac.

Posted in Real Estate Market Conditions, Foreclosure, National News

Comment on this article

Name

Email
Your email address will not be displayed.

Site/Url
Your URL will be displayed.

Your vote

Poor Excellent

Comment text

Options

  Line breaks become <br />

  Remember me

  Allow users to contact you through a message form.

Captcha

Please enter the characters from the image above. (case insensitive)

Captcha code