US Foreclosure Filings Hit 5-Year Low in September - KTVN Channel 2 - Reno Tahoe News Weather, Video -

US Foreclosure Filings Hit 5-Year Low in September

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U.S. foreclosure filings dropped to a five-year low in September as fewer homes were on track to be seized by lenders.

It was the second-consecutive monthly decline in filings. Although, there remains a sharp divergence along state lines.

A report by foreclosure listing firm RealtyTrac Inc. shows the number of homes entering the foreclosure process, so-called foreclosure starts, fell 12 percent from August and 15 percent from a year earlier.

The September decline helped reduce foreclosure filings in the third quarter to the lowest level since the October-December quarter of 2007, RealtyTrac reports. (AP)

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