Foreclosure Filings Decline in 84% of U.S. Cities as Glut Grows
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Foreclosure filings dropped in 84 percent of the largest U.S. cities in the first half of the year as paperwork delays and a glut of seized properties slowed the repossession of homes, according to RealtyTrac Inc.
Notices of default, auction and home seizure fell in 178 of the nation’s 211 biggest metropolitan areas, the Irvine, California-based data seller said today in a report. Cities in judicial states, where courts supervise the foreclosure process, showed the biggest declines from a year earlier.