Foreclosure sales drop to lowest level since 2007

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On Thursday, the Labor Department reported the four-week average of new jobless claims fell 6,250 to 336,750, hitting the lowest level since November 2007. while wholesale sales tumbled 1.6%, the.

Foreclosure activity drops to lowest level since 2005. This is well below the pre- recession average of 77,000 foreclosure starts from 2005 to 2007. Foreclosure resales in the Phoenix area fell to the lowest level since January 2008 as fewer bank-owned properties are listed for sale, according to S DSNews The homepage of the servicing industry.

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Banks filed foreclosures on roughly 205,000 homes in December, the lowest monthly total since November 2007, according to RealtyTrac. The 1.8 million foreclosures for 2011 dropped nearly 35% from.

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The number of homes in foreclosure fell sharply in December on a year-over-year basis. This follows new reports of wage growth nationwide and the volume of bankruptcies declining significantly. Foreclosures drop to lowest level since 2007

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Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.. Formally, a mortgage lender (mortgagee), or other lienholder, obtains a termination of a mortgage borrower (mortgagor)’s equitable right of redemption, either by court.

Foreclosures fall to lowest level since 2007. Bank repossessions declined significantly — there were 51,415 repossessions last month, down 26% from a year ago, and about half the 102,000 monthly repossessions at the peak in September 2010. Much of the improvement, however, can be attributed to declines in only a handful of states,