Fewer US homes started on foreclosure path in Jan

By: The Associated Press
By: The Associated Press

The number of U.S. homes entering the foreclosure process fell in January to a level not seen since the peak of the housing boom.

Foreclosure listing firm RealtyTrac Inc. said Thursday that the sharp drop was a consequence of a package of state laws aimed at stemming foreclosures that went into effect in California at the beginning of the year.

All told, 64,773 homes nationwide were placed on the path to foreclosure in January, the lowest monthly total since June 2006.

January's figure represents a decline of 28 percent from a year earlier and an 11 percent drop from December.

Meanwhile, lenders took possession of the fewer homes last month.

Completed foreclosures totaled 50,453 in January, down 24 percent from a year ago and a 5 percent drop from December.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WNDU - Channel 16 54516 State Road 933 South Bend, IN 46637 Front Desk: 574-284-3000 Newsroom: 574-284-3016 Email: newscenter16@wndu.com
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 191190401 - wndu.com/a?a=191190401