Foreclosure Rates Fall To Six Year Low

According to RealtyTrac, foreclosures in the U.S. last year fell 26% from 2012. 2013 saw the lowest level of foreclosures in six years. The total number of foreclosures, scheduled auctions, notices of default and bank repossessions fell to 1.36 million last year, helping the national foreclosure rate decrease to approximately 1.04%. The vice president at RealtyTrac, Daren Blomquist said, “millions of homeowners are still living in the shadow of the massive foreclosure crisis, but the shadow cast by the foreclosure crisis is shrinking as fewer distressed properties enter foreclosure and properties already in foreclosure are poised to exit in greater numbers in 2014.” More here

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