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Sharp drop in US homes lost to foreclosure in Feb.

March 14, 2013 • Business


FILE – In this Sept. 26, 2007 file photo, a realty sign stands in front of one of the many homes that are in foreclosure in the Villages of Queen Creek in Queen Creek, Ariz. The number of U.S. homes repossessed by lenders fell to the lowest level in nearly six years last month amid a resurgent housing market and rising home prices, the latest evidence that the nation’s foreclosure woes are easing, according to new data from foreclosure listing firm RealtyTrac Inc. (AP Photo/Ross D. Franklin, file)

LOS ANGELES (AP) — While the nation’s foreclosure woes persist, new data show they’re easing amid a resurgent housing market, rising home prices and efforts by some states to buy homeowners more time to avoid losing their homes.

The number of U.S. homes repossessed by lenders last month fell 11 percent from January and declined 29 percent from February last year, tumbling to the lowest level since September 2007, foreclosure listing firm RealtyTrac Inc. said Thursday.

Some states continued to see sharp increases in homes lost to foreclosure last month, including Washington, Wisconsin and Iowa. But home repossessions declined both on an annual and monthly basis in a majority of states, including past foreclosure hotbeds such as Login to read more

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