NEW YORK | Thu Aug 11, 2011 12:01am EDT
NEW YORK Aug 11 (Reuters) – The number of U.S. homes that received foreclosures filings fell to a near four year low in July, a survey said on Thursday.
Notice of default, auction sale or bank repossession were sent to 212,764 properties in July, the lowest number since November 2007, real estate data firm RealtyTrac said.
That represents a 4 percent decrease over June and a 35 percent decrease over last year.
“The downward trend in foreclosure activity has now taken on a life of its own,” James Saccacio, CEO of RealtyTrac, said in a statement. The robo-signing controversy last year, which forced banks to slow the pace of foreclosures, plus government programs to help struggling homeowners stave off repossession may explain the drop, he said.
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