Thursday, November 15, 2012

Slower pace

"U.S. homes are entering the foreclosure process at a slower pace than a year ago, and fewer properties are being repossessed by lenders, new data show.

Between January and October, 971,533 homes were placed on the path to foreclosure, down 8 percent from the same period last year, foreclosure listing firm RealtyTrac Inc. said Thursday.

At the other end of the foreclosure process, banks repossessed 559,063 homes through the end of last month, a decline of nearly 19 percent from a year earlier.

That puts lenders on pace to complete 650,000 foreclosures this year, down from 800,000 in 2011, the firm said."

Let's hope

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